Russell Investments Group Ltd. Reduces Holdings in Tiptree Financial Inc. $TIPT

Key Points

• Russell Investments Group Ltd. has reduced its stake in Tiptree Financial Inc. by 31.5%, now holding 76,147 shares after selling 35,007 shares during the first quarter.
• Tiptree Financial reported earnings of $0.52 per share for the quarter, with a revenue of $528.75 million and a return on equity of 13.90%.
• The company announced a quarterly dividend of $0.06 per share, representing an annualized dividend of $0.24 and a yield of 1.0%.

Russell Investments Group Ltd. decreased its position in shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,147 shares of the financial services provider's stock after selling 35,007 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.20% of Tiptree Financial worth $1,834,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC grew its holdings in shares of Tiptree Financial by 3.3% during the first quarter. OneDigital Investment Advisors LLC now owns 16,777 shares of the financial services provider's stock worth $404,000 after purchasing an additional 543 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tiptree Financial by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,431 shares of the financial services provider's stock worth $301,000 after purchasing an additional 608 shares during the last quarter. CWM LLC grew its holdings in shares of 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 purchasing an additional 713 shares during the last quarter. Tectonic Advisors LLC grew its holdings in shares of Tiptree Financial by 8.2% during the first quarter. Tectonic Advisors LLC now owns 31,545 shares of the financial services provider's stock worth $760,000 after purchasing an additional 2,387 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 2,482 shares during the last quarter. Hedge funds and other institutional investors own 37.78% of the company's stock.

Tiptree Financial Stock Up 0.7%

NASDAQ TIPT opened at $23.17 on Wednesday. Tiptree Financial Inc. has a 52-week low of $18.25 and a 52-week high of $26.90. The business's 50-day moving average price is $22.15 and its 200 day moving average price is $22.14. The firm has a market cap of $868.88 million, a P/E ratio of 18.39 and a beta of 1.23.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.52 earnings per share (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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, August 18th. Tiptree Financial's payout ratio is currently 19.05%.

Wall Street Analyst Weigh In

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.

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