Goldman Sachs Group Inc. Sells 87,249 Shares of Tiptree Financial Inc. $TIPT

Key Points

• Goldman Sachs Group Inc. sold 87,249 shares of Tiptree Financial, reducing its holdings by 37.8%, leaving it with approximately 143,330 shares valued at $3.45 million.
• Tiptree Financial recently declared a quarterly dividend of $0.06 per share, representing an annualized yield of 1.0%.
• Following a recent earnings report, Wall Street Zen upgraded Tiptree Financial's stock rating from "hold" to "buy".

Goldman Sachs Group Inc. trimmed its holdings in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 37.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,330 shares of the financial services provider's stock after selling 87,249 shares during the period. Goldman Sachs Group Inc. owned 0.38% of Tiptree Financial worth $3,453,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. CWM LLC increased its holdings in shares of Tiptree Financial by 86.7% in the first quarter. CWM LLC now owns 1,535 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 713 shares during the last quarter. Group One Trading LLC boosted its holdings in shares of Tiptree Financial by 192.8% during the 4th 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 period. GAMMA Investing LLC grew its stake in Tiptree Financial by 10,791.3% in the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the financial services provider's stock valued at $60,000 after buying an additional 2,482 shares during the last quarter. Quantbot Technologies LP bought a new position in Tiptree Financial in the 1st quarter valued at about $89,000. Finally, Strs Ohio acquired a new stake in Tiptree Financial during the first quarter worth approximately $99,000. 37.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Tiptree Financial Stock Up 1.3%

Shares of NASDAQ:TIPT traded up $0.31 during midday trading on Monday, hitting $23.90. The stock had a trading volume of 219,824 shares, compared to its average volume of 167,538. The company's 50-day moving average price is $22.42 and its 200-day moving average price is $22.47. Tiptree Financial Inc. has a fifty-two week low of $18.25 and a fifty-two week high of $26.90. The company has a market capitalization of $896.25 million, a P/E ratio of 18.97 and a beta of 1.23.

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

Tiptree Financial Dividend Announcement

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

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.