Tiptree Financial Inc. $TIPT Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. reduced its holdings in Tiptree Financial by 48.7%, selling 82,194 shares during the first quarter, and now owns 86,659 shares valued at approximately $2.1 million.
• Other investors, including OneDigital Investment Advisors LLC and Royal Bank of Canada, also adjusted their stakes in Tiptree Financial, with some increasing ownership by up to 86.7%.
• Tiptree Financial's stock is currently up 3.3%, trading at $25.49, with a reported earnings per share of $0.52 for the last quarter.

Hodges Capital Management Inc. cut its stake in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 48.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,659 shares of the financial services provider's stock after selling 82,194 shares during the period. Hodges Capital Management Inc. owned 0.23% of Tiptree Financial worth $2,088,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. acquired a new stake in shares of Tiptree Financial in the 1st quarter worth about $587,000. Nuveen Asset Management LLC increased its stake in shares of Tiptree Financial by 6.2% in 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 during the period. Kingsview Wealth Management LLC bought a new stake in shares of Tiptree Financial during the first quarter valued at approximately $287,000. Vanguard Group Inc. grew its holdings in Tiptree Financial by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,291,675 shares of the financial services provider's stock worth $31,116,000 after buying an additional 28,373 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Tiptree Financial in the 1st quarter valued at approximately $641,000. Institutional investors and hedge funds own 37.78% of the company's stock.

Tiptree Financial Price Performance

Shares of NASDAQ TIPT traded down $1.79 during midday trading on Monday, reaching $23.70. 286,248 shares of the company traded hands, compared to its average volume of 154,923. Tiptree Financial Inc. has a 52 week low of $18.25 and a 52 week high of $26.90. The stock has a 50-day moving average price of $22.19 and a 200 day moving average price of $22.45. The company has a market cap of $888.75 million, a price-to-earnings ratio of 18.81 and a beta of 1.23.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last posted 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 company had revenue of $528.75 million for 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 paid 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 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 upgraded Tiptree Financial from a "hold" rating to a "buy" rating in a research 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.