Raymond James Financial Inc. Takes Position in Tiptree Inc. (NASDAQ:TIPT)

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

Several other large investors also recently modified their holdings of TIPT. Atria Wealth Solutions Inc. raised its stake 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 buying an additional 1,000 shares during the period. Hillsdale Investment Management Inc. grew its position in shares of Tiptree by 0.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 221,977 shares of the financial services provider's stock worth $4,630,000 after purchasing an additional 1,200 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tiptree by 0.7% in 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 purchasing an additional 1,271 shares during the period. Tectonic Advisors LLC raised its position in shares of Tiptree by 6.0% during the fourth quarter. Tectonic Advisors LLC now owns 29,158 shares of the financial services provider's stock valued at $608,000 after buying an additional 1,662 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Tiptree by 4.3% during the fourth quarter. Teacher Retirement System of Texas now owns 41,444 shares of the financial services provider's stock worth $865,000 after acquiring an additional 1,719 shares during the last quarter. Institutional investors own 37.78% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Tiptree from a "buy" rating to a "hold" rating in a report on Monday, May 5th.

Tiptree Stock Up 1.4%

TIPT traded up $0.31 during trading on Tuesday, reaching $21.88. The company had a trading volume of 12,629 shares, compared to its average volume of 99,640. Tiptree Inc. has a 52 week low of $15.60 and a 52 week high of $26.90. The stock has a market cap of $815.23 million, a P/E ratio of 22.56 and a beta of 1.16. The business has a 50 day simple moving average of $22.46 and a 200-day simple moving average of $21.45.

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

Tiptree Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, May 12th. Tiptree's dividend payout ratio is currently 20.00%.

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.