Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Tiptree Inc. (NASDAQ:TIPT – Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 5,399 shares of the financial services provider’s stock, valued at approximately $79,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TIPT. Credit Suisse AG purchased a new stake in shares of Tiptree during the 2nd quarter worth about $32,000. Tower Research Capital LLC TRC increased its holdings in shares of Tiptree by 103.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,218 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 1,640 shares during the last quarter. Dorsey Wright & Associates acquired a new position in shares of Tiptree during the 4th quarter valued at about $37,000. Acadian Asset Management LLC acquired a new position in shares of Tiptree during the 1st quarter valued at about $44,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Tiptree by 252.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,924 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 4,241 shares during the last quarter. 36.67% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
TIPT has been the topic of a number of analyst reports. StockNews.com initiated coverage on Tiptree in a report on Thursday, August 17th. They set a “buy” rating on the stock. TheStreet raised Tiptree from a “c” rating to a “b-” rating in a report on Wednesday, August 16th.
Tiptree Stock Down 0.1 %
TIPT opened at $16.25 on Friday. The firm has a market capitalization of $597.19 million, a P/E ratio of 30.66 and a beta of 1.12. The stock’s 50 day moving average price is $15.10 and its two-hundred day moving average price is $14.70. Tiptree Inc. has a 12-month low of $9.98 and a 12-month high of $16.97.
Tiptree (NASDAQ:TIPT – Get Free Report) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The firm had revenue of $404.52 million for the quarter. Tiptree had a return on equity of 11.31% and a net margin of 1.32%.
Tiptree Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, August 18th. Tiptree’s payout ratio is presently 37.74%.
Tiptree Company Profile
Tiptree Inc, through its subsidiaries, provides specialty insurance products and related services primarily in the United States. The company operates in two segments, Insurance and Mortgage. It offers niche; commercial lines insurance products, including professional liability, contractual liability, energy, allied health, general liability, directors' and officers' liability, life sciences, inland marine, contractors' equipment, contractors' liability, student legal liability, hospitality, and business owner insurance products; and personal lines insurance products, such as storage unit contents, manufactured housing, GAP, auto, credit life and disability, and collateral insurance products.
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