Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in 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% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.

Several other institutional investors have also added to or reduced their stakes in TIPT. JPMorgan Chase & Co. raised its position in Tiptree Financial by 76.5% during the fourth quarter. JPMorgan Chase & Co. now owns 139,797 shares of the financial services provider's stock valued at $2,916,000 after purchasing an additional 60,595 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Tiptree Financial by 25.0% during the fourth quarter. Alliancebernstein L.P. now owns 23,560 shares of the financial services provider's stock worth $491,000 after buying an additional 4,710 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Tiptree Financial by 31.9% during the fourth quarter. Wells Fargo & Company MN now owns 14,087 shares of the financial services provider's stock worth $294,000 after buying an additional 3,403 shares during the last quarter. Invesco Ltd. grew its stake in shares of Tiptree Financial by 395.9% during the fourth quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider's stock worth $5,456,000 after buying an additional 208,814 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Tiptree Financial during the fourth quarter worth $480,000. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Tiptree Financial Stock Up 1.6%

NASDAQ TIPT traded up $0.3550 during trading hours on Wednesday, reaching $22.9150. 59,868 shares of the company were exchanged, compared to its average volume of 150,925. Tiptree Financial Inc. has a 1 year low of $17.07 and a 1 year high of $26.90. The business's 50 day simple moving average is $22.17 and its 200-day simple moving average is $22.04. The stock has a market capitalization of $859.31 million, a P/E ratio of 18.19 and a beta of 1.23.

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 (EPS) for the quarter. The business had revenue of $528.75 million during the quarter. Tiptree Financial had a net margin of 2.77% and a return on equity of 13.90%.

Tiptree Financial Dividend Announcement

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

Tiptree Financial 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.