BNP Paribas Financial Markets Decreases Stake in Tiptree Inc. (NASDAQ:TIPT)

BNP Paribas Financial Markets lessened its holdings in shares of Tiptree Inc. (NASDAQ:TIPT) by 10.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,609 shares of the financial services provider’s stock after selling 5,836 shares during the quarter. BNP Paribas Financial Markets owned 0.13% of Tiptree worth $1,014,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Tiptree by 55.9% in the third quarter. JPMorgan Chase & Co. now owns 79,202 shares of the financial services provider’s stock worth $1,550,000 after acquiring an additional 28,400 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Tiptree during the 4th quarter worth $480,000. Hodges Capital Management Inc. boosted its position in Tiptree by 35.5% during 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 period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Tiptree by 44.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,000 shares of the financial services provider’s stock valued at $1,085,000 after purchasing an additional 15,881 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Tiptree in the fourth quarter valued at about $642,000. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Tiptree Stock Performance

Tiptree stock opened at $22.00 on Wednesday. The firm has a market capitalization of $824.93 million, a PE ratio of 22.68 and a beta of 1.16. Tiptree Inc. has a one year low of $15.60 and a one year high of $26.90. The stock’s 50 day moving average price is $22.34 and its 200 day moving average price is $21.52.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.49 earnings per share (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 disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 12th were given a $0.06 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.24 dividend on an annualized basis and a yield of 1.09%. Tiptree’s payout ratio is currently 20.00%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Tiptree from a “buy” rating to a “hold” rating in a research report on Monday, May 5th.

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.