Rhumbline Advisers Sells 11,373 Shares of Tiptree Financial Inc. $TIPT

Rhumbline Advisers reduced its position in shares of Tiptree Financial Inc. (NASDAQ:TIPT) by 23.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,692 shares of the financial services provider’s stock after selling 11,373 shares during the quarter. Rhumbline Advisers owned 0.10% of Tiptree Financial worth $884,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TIPT. CWM LLC grew its stake in shares of Tiptree Financial by 86.7% during the 1st quarter. CWM LLC now owns 1,535 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 713 shares during the period. Group One Trading LLC grew its stake in shares of Tiptree Financial by 192.8% during the 4th quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 3,856 shares during the period. GAMMA Investing LLC grew its stake in shares of Tiptree Financial by 10,791.3% during the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 2,482 shares during the period. Quantbot Technologies LP bought a new stake in shares of Tiptree Financial during the 1st quarter valued at about $89,000. Finally, Strs Ohio bought a new position in shares of Tiptree Financial during the 1st quarter valued at approximately $99,000. 37.78% of the stock is currently owned by institutional investors.

Tiptree Financial Stock Performance

Shares of NASDAQ:TIPT opened at $23.59 on Friday. The stock has a 50 day moving average of $22.37 and a 200 day moving average of $22.47. The company has a market cap of $884.63 million, a PE ratio of 18.72 and a beta of 1.23. Tiptree Financial Inc. has a 12-month low of $18.25 and a 12-month high of $26.90.

Tiptree Financial (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.52 earnings per share for the quarter. Tiptree Financial had a return on equity of 13.90% and a net margin of 2.77%.The business had revenue of $528.75 million during the quarter.

Tiptree Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, August 18th. Tiptree Financial’s dividend payout ratio is presently 19.05%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Tiptree Financial from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd.

Tiptree Financial 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.