Renaissance Technologies LLC Takes $480,000 Position in Tiptree Inc. (NASDAQ:TIPT)

Renaissance Technologies LLC purchased a new stake in Tiptree Inc. (NASDAQ:TIPT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 23,000 shares of the financial services provider's stock, valued at approximately $480,000. Renaissance Technologies LLC owned approximately 0.06% of Tiptree as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Barclays PLC boosted its position in Tiptree by 74.2% during the 3rd quarter. Barclays PLC now owns 72,745 shares of the financial services provider's stock valued at $1,424,000 after acquiring an additional 30,985 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Tiptree by 55.9% during the third quarter. JPMorgan Chase & Co. now owns 79,202 shares of the financial services provider's stock valued at $1,550,000 after buying an additional 28,400 shares during the last quarter. Sanders Morris Harris LLC boosted its holdings in shares of Tiptree by 66.7% in the 4th quarter. Sanders Morris Harris LLC now owns 25,000 shares of the financial services provider's stock valued at $518,000 after buying an additional 10,000 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Tiptree by 23.5% in the 4th quarter. SG Americas Securities LLC now owns 15,485 shares of the financial services provider's stock worth $323,000 after buying an additional 2,944 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its position in Tiptree by 35.5% during the fourth quarter. Hodges Capital Management Inc. now owns 168,853 shares of the financial services provider's stock valued at $3,522,000 after acquiring an additional 44,269 shares during the last quarter. Institutional investors own 37.78% of the company's stock.

Tiptree Price Performance

Tiptree stock traded down $0.27 during trading hours on Wednesday, hitting $21.17. 156,780 shares of the stock traded hands, compared to its average volume of 99,730. Tiptree Inc. has a 1 year low of $15.60 and a 1 year high of $26.90. The firm's 50 day moving average price is $22.57 and its 200-day moving average price is $21.39. The stock has a market capitalization of $788.77 million, a price-to-earnings ratio of 21.82 and a beta of 1.16.

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. The company had revenue of $497.43 million for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%.

Tiptree Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 12th will be given a $0.06 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.24 annualized dividend and a dividend yield of 1.13%. Tiptree's dividend payout ratio (DPR) is presently 20.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Tiptree from a "buy" rating to a "hold" rating in a report on Monday.

Tiptree 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.