Tiptree Financial Inc. $TIPT Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers sold 11,373 shares of Tiptree Financial Inc., reducing its position by 23.7% and now owns 36,692 shares valued at approximately $884,000.
• Tiptree Financial's quarterly earnings report indicated earnings of $0.52 per share with a revenue of $528.75 million and a net margin of 2.77%.
• The company's recent dividend was declared at $0.06 per share, representing a 1.0% annualized yield and a dividend payout ratio of 19.05%.

Rhumbline Advisers trimmed its holdings in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 23.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 36,692 shares of the financial services provider's stock after selling 11,373 shares during the quarter. Rhumbline Advisers owned about 0.10% of Tiptree Financial worth $884,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TIPT. Nuveen LLC bought a new stake in shares of Tiptree Financial during the 1st quarter valued at about $5,346,000. Breach Inlet Capital Management LLC lifted its position in shares of Tiptree Financial by 10.9% during the 1st quarter. Breach Inlet Capital Management LLC now owns 788,909 shares of the financial services provider's stock valued at $19,005,000 after buying an additional 77,373 shares in the last quarter. Millennium Management LLC lifted its position in shares of Tiptree Financial by 43.3% during the 1st quarter. Millennium Management LLC now owns 167,964 shares of the financial services provider's stock valued at $4,046,000 after buying an additional 50,738 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Tiptree Financial by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,291,675 shares of the financial services provider's stock worth $31,116,000 after purchasing an additional 28,373 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Tiptree Financial in the 1st quarter worth approximately $641,000. 37.78% of the stock is currently owned by institutional investors.

Tiptree Financial Trading Up 1.8%

Shares of TIPT stock traded up $0.43 during mid-day trading on Tuesday, reaching $24.33. The stock had a trading volume of 55,314 shares, compared to its average volume of 154,395. The business's fifty day moving average is $22.42 and its 200-day moving average is $22.47. The firm has a market cap of $912.19 million, a price-to-earnings ratio of 19.31 and a beta of 1.23. Tiptree Financial Inc. has a 1-year low of $18.25 and a 1-year high of $26.90.

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

Tiptree Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

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

About Tiptree Financial

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.