Raymond James Financial Inc. Purchases New Shares in Tiptree Inc. (NASDAQ:TIPT)

Raymond James Financial Inc. purchased a new position in shares of Tiptree Inc. (NASDAQ:TIPT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 30,778 shares of the financial services provider's stock, valued at approximately $642,000. Raymond James Financial Inc. owned about 0.08% of Tiptree at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Tiptree during the 4th quarter worth approximately $83,000. Trexquant Investment LP raised its holdings in shares of Tiptree by 24.9% during the 4th quarter. Trexquant Investment LP now owns 13,221 shares of the financial services provider's stock worth $276,000 after buying an additional 2,635 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Tiptree by 31.9% during the 4th quarter. Wells Fargo & Company MN now owns 14,087 shares of the financial services provider's stock worth $294,000 after buying an additional 3,403 shares during the last quarter. SG Americas Securities LLC raised its stake in Tiptree by 23.5% during the fourth quarter. SG Americas Securities LLC now owns 15,485 shares of the financial services provider's stock worth $323,000 after acquiring an additional 2,944 shares in the last quarter. Finally, Atria Wealth Solutions Inc. lifted its holdings 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 worth $390,000 after acquiring an additional 1,000 shares during the last quarter. 37.78% of the stock is currently owned by institutional investors.

Tiptree Trading Down 0.0 %

TIPT traded down $0.01 on Friday, reaching $21.44. The stock had a trading volume of 74,701 shares, compared to its average volume of 99,639. The company has a market capitalization of $798.83 million, a price-to-earnings ratio of 22.10 and a beta of 1.16. Tiptree Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $26.90. The firm has a 50-day moving average of $22.49 and a 200-day moving average of $21.42.

Tiptree (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.49 earnings per share 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 12th will be issued a $0.06 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.24 annualized dividend and a yield of 1.12%. Tiptree's payout ratio is 20.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Tiptree from a "buy" rating to a "hold" rating in a research note 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.