Bank of America Corp DE Boosts Stake in Tiptree Inc. (NASDAQ:TIPT)

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

Other large investors also recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of Tiptree by 9.6% in the fourth quarter. Northern Trust Corp now owns 226,469 shares of the financial services provider's stock worth $4,724,000 after acquiring an additional 19,773 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Tiptree in the fourth quarter worth $480,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Tiptree by 44.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,000 shares of the financial services provider's stock worth $1,085,000 after acquiring an additional 15,881 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Tiptree in the fourth quarter worth $642,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Tiptree in the fourth quarter worth $436,000. Institutional investors own 37.78% of the company's stock.

Tiptree Stock Up 1.3%

NASDAQ:TIPT traded up $0.29 during mid-day trading on Friday, hitting $22.60. 54,221 shares of the company traded hands, compared to its average volume of 103,049. The stock's fifty day moving average price is $21.99 and its 200-day moving average price is $21.57. Tiptree Inc. has a one year low of $15.60 and a one year high of $26.90. The firm has a market cap of $847.43 million, a price-to-earnings ratio of 23.30 and a beta of 1.15.

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

Tiptree Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 12th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.06%. The ex-dividend date was Monday, May 12th. Tiptree's dividend payout ratio is presently 20.00%.

Analyst Ratings Changes

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

About Tiptree

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.