Russell Investments Group Ltd. trimmed its position in shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 31.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,147 shares of the financial services provider's stock after selling 35,007 shares during the period. Russell Investments Group Ltd. owned approximately 0.20% of Tiptree Financial worth $1,834,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Tiptree Financial by 31.9% in the 4th quarter. Wells Fargo & Company MN now owns 14,087 shares of the financial services provider's stock valued at $294,000 after buying an additional 3,403 shares during the period. Renaissance Technologies LLC acquired a new position in Tiptree Financial in the 4th quarter valued at about $480,000. Raymond James Financial Inc. purchased a new stake in Tiptree Financial during the fourth quarter worth about $642,000. Barclays PLC increased its stake in Tiptree Financial by 10.8% during the fourth quarter. Barclays PLC now owns 80,569 shares of the financial services provider's stock worth $1,681,000 after purchasing an additional 7,824 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of Tiptree Financial by 31.7% during the fourth quarter. Hsbc Holdings PLC now owns 25,980 shares of the financial services provider's stock worth $544,000 after purchasing an additional 6,249 shares in the last quarter. 37.78% of the stock is currently owned by hedge funds and other institutional investors.
Tiptree Financial Stock Performance
TIPT stock traded down $0.09 during mid-day trading on Monday, reaching $23.45. The company had a trading volume of 73,738 shares, compared to its average volume of 130,265. The company has a market capitalization of $879.38 million, a price-to-earnings ratio of 18.61 and a beta of 1.23. The firm has a fifty day simple moving average of $22.19 and a 200 day simple moving average of $22.25. Tiptree Financial Inc. has a fifty-two week low of $18.25 and a fifty-two week high of $26.90.
Tiptree Financial (NASDAQ:TIPT - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $528.75 million during the quarter.
Tiptree Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were issued 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 was Monday, August 18th. Tiptree Financial's dividend payout ratio (DPR) is presently 19.05%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of Tiptree Financial from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd.
View Our Latest Stock Analysis on Tiptree Financial
Tiptree Financial Profile
(
Free Report)
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.
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