Raymond James & Associates Has $1.34 Million Stock Holdings in Tiptree Inc. (NASDAQ:TIPT)

Raymond James & Associates cut its holdings in shares of Tiptree Inc. (NASDAQ:TIPT) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,577 shares of the financial services provider’s stock after selling 4,523 shares during the period. Raymond James & Associates’ holdings in Tiptree were worth $1,338,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Kennedy Capital Management LLC boosted its position in Tiptree by 2.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 24,056 shares of the financial services provider’s stock worth $403,000 after buying an additional 565 shares during the period. Deutsche Bank AG boosted its position in Tiptree by 11.2% during the 4th quarter. Deutsche Bank AG now owns 10,393 shares of the financial services provider’s stock worth $144,000 after buying an additional 1,049 shares during the period. Rhumbline Advisers boosted its position in Tiptree by 3.1% during the 3rd quarter. Rhumbline Advisers now owns 35,742 shares of the financial services provider’s stock worth $599,000 after buying an additional 1,065 shares during the period. Tower Research Capital LLC TRC boosted its position in Tiptree by 183.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,704 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,102 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Tiptree by 9.1% in the 4th quarter. Alliancebernstein L.P. now owns 14,400 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 1,200 shares during the period. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, TheStreet downgraded shares of Tiptree from a “b-” rating to a “c+” rating in a research report on Friday, December 29th.

Tiptree Stock Performance

Shares of NASDAQ TIPT opened at $16.34 on Friday. The company has a market capitalization of $600.47 million, a P/E ratio of 51.05 and a beta of 1.19. Tiptree Inc. has a 52-week low of $12.12 and a 52-week high of $20.80. The company’s 50 day moving average price is $16.85 and its 200-day moving average price is $17.53.

Tiptree (NASDAQ:TIPT) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter. The firm had revenue of $446.37 million for the quarter. Tiptree had a net margin of 0.85% and a return on equity of 11.10%.

Tiptree Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 11th were given a $0.06 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Tiptree’s previous quarterly dividend of $0.05. Tiptree’s payout ratio is 75.00%.

Insider Activity

In related news, CEO Jonathan Ilany acquired 2,900 shares of the stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of $16.95 per share, for a total transaction of $49,155.00. Following the purchase, the chief executive officer now directly owns 190,471 shares of the company’s stock, valued at approximately $3,228,483.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 31.78% of the stock is currently owned by company insiders.

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.