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 shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 37.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,330 shares of the financial services provider's stock after selling 87,249 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.38% of Tiptree Financial worth $3,453,000 as of its most recent SEC filing.

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

Tiptree Financial Stock Performance

NASDAQ:TIPT remained flat at $23.59 during mid-day trading on Friday. The company had a trading volume of 348,178 shares, compared to its average volume of 161,360. Tiptree Financial Inc. has a 12-month low of $18.25 and a 12-month high of $26.90. The company has a market cap of $884.63 million, a PE ratio of 18.72 and a beta of 1.23. The company has a fifty day moving average of $22.37 and a 200 day moving average of $22.48.

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

Tiptree Financial Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of 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.