Connor Clark & Lunn Investment Management Ltd. Purchases 16,827 Shares of Tiptree Financial Inc. $TIPT

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Tiptree Financial Inc. by 32.4%, now holding 68,827 shares worth approximately $1.66 million.
• Vanguard Group Inc. also raised its stake by 2.2%, owning 1,291,675 shares valued at $31.1 million, indicating strong interest from institutional investors.
• Tiptree Financial reported $0.52 earnings per share and has announced a quarterly dividend of $0.06, reflecting a 1.1% dividend yield.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 32.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,827 shares of the financial services provider's stock after purchasing an additional 16,827 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.18% of Tiptree Financial worth $1,658,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TIPT. CWM LLC increased its holdings in shares of Tiptree Financial by 86.7% in the first quarter. CWM LLC now owns 1,535 shares of the financial services provider's stock worth $37,000 after buying an additional 713 shares during the period. Group One Trading LLC increased its holdings in shares of Tiptree Financial by 192.8% in the fourth quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider's stock worth $39,000 after buying an additional 3,856 shares during the period. GAMMA Investing LLC increased its holdings in shares of Tiptree Financial by 10,791.3% in the first quarter. GAMMA Investing LLC now owns 2,505 shares of the financial services provider's stock worth $60,000 after buying an additional 2,482 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Tiptree Financial in the fourth quarter worth about $85,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Tiptree Financial during the 4th quarter valued at about $200,000. Hedge funds and other institutional investors own 37.78% of the company's stock.

Tiptree Financial Price Performance

NASDAQ:TIPT traded up $0.44 during mid-day trading on Thursday, reaching $23.24. 200,460 shares of the company's stock traded hands, compared to its average volume of 137,520. Tiptree Financial Inc. has a 12-month low of $18.25 and a 12-month high of $26.90. The firm has a market capitalization of $871.50 million, a price-to-earnings ratio of 18.44 and a beta of 1.23. The company has a 50 day moving average price of $22.15 and a 200-day moving average price of $22.07.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.52 earnings per share for the quarter. The business had revenue of $528.75 million for the quarter. Tiptree Financial had a return on equity of 13.90% and a net margin of 2.77%.

Tiptree Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 18th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 18th. Tiptree Financial's payout ratio is presently 19.05%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Tiptree Financial from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd.

Tiptree Financial Company Profile

Tiptree Inc, through its subsidiaries, provides specialty insurance products and related services primarily in the United States. It operates through two segments: Insurance and Mortgage. The company offers niche; commercial lines insurance products, including professional liability, general liability, contractual liability protection, property and other short-tail, and alternative risks insurance products; and personal lines insurance products, such as credit protection surrounding loan payments.