Bank of America Corp DE Has $1.04 Million Stock Holdings in Tiptree Inc. (NASDAQ:TIPT)

Bank of America Corp DE lifted its position in shares of Tiptree Inc. (NASDAQ:TIPT - Free Report) by 29.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,932 shares of the financial services provider's stock after purchasing an additional 11,479 shares during the period. Bank of America Corp DE owned 0.13% of Tiptree worth $1,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC raised its stake in Tiptree by 5.1% in the 4th quarter. Empowered Funds LLC now owns 118,413 shares of the financial services provider's stock valued at $2,470,000 after acquiring an additional 5,719 shares during the period. Rhumbline Advisers increased its holdings in shares of Tiptree by 28.0% in the fourth quarter. Rhumbline Advisers now owns 48,065 shares of the financial services provider's stock valued at $1,003,000 after purchasing an additional 10,505 shares during the last quarter. Meixler Investment Management Ltd. bought a new position in shares of Tiptree in the fourth quarter valued at about $569,000. Atria Wealth Solutions Inc. raised its position in shares of Tiptree by 5.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 18,680 shares of the financial services provider's stock valued at $390,000 after purchasing an additional 1,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Tiptree by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 184,823 shares of the financial services provider's stock worth $3,855,000 after buying an additional 1,271 shares during the last quarter. 37.78% of the stock is owned by institutional investors.

Tiptree Stock Performance

Shares of NASDAQ TIPT traded up $0.64 during trading hours on Tuesday, reaching $23.22. 181,672 shares of the stock were exchanged, compared to its average volume of 103,707. The stock's fifty day simple moving average is $21.94 and its 200 day simple moving average is $21.58. The firm has a market capitalization of $870.68 million, a price-to-earnings ratio of 23.94 and a beta of 1.15. Tiptree Inc. has a 52 week low of $15.60 and a 52 week high of $26.90.

Tiptree (NASDAQ:TIPT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.49 EPS for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%. The business had revenue of $497.43 million for the quarter.

Tiptree Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 12th were given a $0.06 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.03%. Tiptree's payout ratio is 20.00%.

Wall Street Analysts Forecast Growth

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

Tiptree 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.