Hodges Capital Management Inc. Sells 82,194 Shares of Tiptree Financial Inc. $TIPT

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

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC increased 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 valued at $37,000 after acquiring an additional 713 shares during the last quarter. Group One Trading LLC increased its position in shares of Tiptree Financial by 192.8% in the fourth quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 3,856 shares during the last quarter. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 2,482 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Tiptree Financial in the first quarter valued at about $89,000. Finally, Strs Ohio acquired a new stake in shares of Tiptree Financial in the first quarter valued at about $99,000. Institutional investors and hedge funds own 37.78% of the company's stock.

Wall Street Analysts Forecast Growth

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 2.4%

Shares of Tiptree Financial stock traded up $0.56 on Thursday, hitting $23.39. The stock had a trading volume of 51,410 shares, compared to its average volume of 153,051. Tiptree Financial Inc. has a twelve month low of $18.25 and a twelve month high of $26.90. The business's 50 day moving average is $22.28 and its two-hundred day moving average is $22.46. The stock has a market cap of $876.94 million, a price-to-earnings ratio of 18.56 and a beta of 1.23.

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

Tiptree Financial Dividend Announcement

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

Tiptree Financial Company 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.