Renaissance Technologies LLC Makes New Investment in Tiptree Inc. (NASDAQ:TIPT)

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

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Tiptree by 55.9% in the 3rd 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 in the last quarter. Barclays PLC raised its holdings in shares of Tiptree by 74.2% in the third quarter. Barclays PLC now owns 72,745 shares of the financial services provider's stock valued at $1,424,000 after buying an additional 30,985 shares during the last quarter. Hodges Capital Management Inc. raised its position in Tiptree by 35.5% in the 4th quarter. Hodges Capital Management Inc. now owns 168,853 shares of the financial services provider's stock worth $3,522,000 after purchasing an additional 44,269 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Tiptree by 44.0% during 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 last quarter. Finally, Raymond James Financial Inc. bought a new stake in Tiptree during the 4th quarter worth about $642,000. 37.78% of the stock is owned by institutional investors and hedge funds.

Tiptree Stock Performance

Tiptree stock remained flat at $21.45 during mid-day trading on Friday. The company's stock had a trading volume of 12,366 shares, compared to its average volume of 140,721. The company has a fifty day moving average of $22.51 and a 200 day moving average of $21.40. The stock has a market capitalization of $799.21 million, a PE ratio of 22.11 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.

Tiptree (NASDAQ:TIPT - Get Free Report) last announced 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 net margin of 2.05% and a return on equity of 11.50%. The company had revenue of $497.43 million during the quarter.

Tiptree Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 12th will be paid 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 dividend payout ratio (DPR) is 20.00%.

Analysts Set New Price Targets

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

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.