Rhumbline Advisers Reduces Stock Position in Tiptree Financial Inc. (NASDAQ:TIPT)

Rhumbline Advisers reduced its position in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 23.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 0.10% of Tiptree Financial worth $884,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its position in Tiptree Financial by 6.2% during the fourth quarter. Nuveen Asset Management LLC now owns 207,973 shares of the financial services provider's stock valued at $4,338,000 after purchasing an additional 12,160 shares in the last quarter. Northern Trust Corp lifted its position in shares of Tiptree Financial by 9.6% during the fourth quarter. Northern Trust Corp now owns 226,469 shares of the financial services provider's stock valued at $4,724,000 after buying an additional 19,773 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Tiptree Financial in the 4th quarter valued at about $480,000. Bank of America Corp DE grew its position in shares of Tiptree Financial by 29.9% in the 4th quarter. Bank of America Corp DE now owns 49,932 shares of the financial services provider's stock worth $1,042,000 after buying an additional 11,479 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Tiptree Financial by 44.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,000 shares of the financial services provider's stock worth $1,085,000 after buying an additional 15,881 shares during the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Tiptree Financial Stock Down 1.2%

Shares of Tiptree Financial stock traded down $0.28 during trading on Tuesday, reaching $23.21. The company's stock had a trading volume of 137,260 shares, compared to its average volume of 107,291. Tiptree Financial Inc. has a 1-year low of $15.60 and a 1-year high of $26.90. The company has a 50-day simple moving average of $22.23 and a two-hundred day simple moving average of $21.62. The company has a market cap of $870.38 million, a price-to-earnings ratio of 19.34 and a beta of 1.15.

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

Tiptree Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 12th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.03%. The ex-dividend date was Monday, May 12th. Tiptree Financial's dividend payout ratio is presently 20.00%.

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.