Legal & General Group Plc Cuts Stock Position in Tiptree Inc. (NASDAQ:TIPT)

Legal & General Group Plc decreased its holdings in shares of Tiptree Inc. (NASDAQ:TIPT) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,265 shares of the financial services provider’s stock after selling 2,572 shares during the quarter. Legal & General Group Plc owned about 0.06% of Tiptree worth $464,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Invesco Ltd. raised its position in shares of Tiptree by 395.9% during the 4th quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider’s stock valued at $5,456,000 after buying an additional 208,814 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Tiptree by 15.0% in the 4th quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider’s stock valued at $10,936,000 after purchasing an additional 68,338 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Tiptree by 76.5% in the 4th quarter. JPMorgan Chase & Co. now owns 139,797 shares of the financial services provider’s stock worth $2,916,000 after purchasing an additional 60,595 shares during the period. Hodges Capital Management Inc. increased its position in shares of Tiptree by 35.5% during the 4th quarter. Hodges Capital Management Inc. now owns 168,853 shares of the financial services provider’s stock valued at $3,522,000 after purchasing an additional 44,269 shares during the last quarter. Finally, Barclays PLC raised its holdings 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 buying an additional 30,985 shares during the period. Institutional investors own 37.78% of the company’s stock.

Tiptree Stock Up 1.1 %

Shares of TIPT opened at $22.40 on Wednesday. The business has a fifty day moving average of $22.56 and a 200 day moving average of $21.36. The company has a market cap of $834.60 million, a PE ratio of 23.09 and a beta of 1.19. Tiptree Inc. has a 52-week low of $15.60 and a 52-week high of $26.90.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.67 EPS for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%. The firm had revenue of $503.60 million during the quarter.

Tiptree Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree’s dividend payout ratio is currently 18.60%.

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.