Heartland Advisors Inc. Trims Stock Position in Tiptree Financial Inc. (NASDAQ:TIPT)

Key Points

• Heartland Advisors Inc. has reduced its stake in Tiptree Financial Inc. by 7.7%, selling 25,000 shares and now holding 300,000 shares valued at approximately $7.2 million.
• Many institutional investors have increased their holdings in Tiptree Financial, with GAMMA Investing LLC significantly boosting its stake by over 10,791% in the most recent quarter.
• Tiptree Financial recently declared a quarterly dividend of $0.06 per share, equating to a 1.11% dividend yield, and reported earnings with a net margin of 2.45% for the last quarter.

Heartland Advisors Inc. lessened its stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 7.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 300,000 shares of the financial services provider's stock after selling 25,000 shares during the period. Heartland Advisors Inc. owned about 0.81% of Tiptree Financial worth $7,227,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWM LLC increased its holdings in Tiptree Financial by 86.7% during 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 last quarter. Group One Trading LLC increased its holdings in Tiptree Financial by 192.8% during 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 last quarter. GAMMA Investing LLC increased its holdings in Tiptree Financial by 10,791.3% during 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 last quarter. KLP Kapitalforvaltning AS purchased a new stake in Tiptree Financial during the fourth quarter worth about $83,000. Finally, Aquatic Capital Management LLC purchased a new stake in Tiptree Financial during the fourth quarter worth about $85,000. Hedge funds and other institutional investors own 37.78% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Tiptree Financial from a "buy" rating to a "hold" rating in a research note on Monday, May 5th.

Tiptree Financial Price Performance

Shares of TIPT traded down $0.36 during trading hours on Wednesday, hitting $21.13. The company's stock had a trading volume of 21,803 shares, compared to its average volume of 153,446. The company has a market cap of $792.35 million, a price-to-earnings ratio of 17.66 and a beta of 1.14. The business has a 50 day simple moving average of $22.39 and a two-hundred day simple moving average of $21.89. Tiptree Financial Inc. has a 52-week low of $17.07 and a 52-week high of $26.90.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.49 earnings per share for the quarter. The firm had revenue of $497.43 million during the quarter. Tiptree Financial had a net margin of 2.45% and a return on equity of 13.87%.

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.