Breach Inlet Capital Management LLC Sells 85,635 Shares of Tiptree Inc. (NASDAQ:TIPT)

Breach Inlet Capital Management LLC reduced its stake in shares of Tiptree Inc. (NASDAQ:TIPT - Free Report) by 10.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 711,536 shares of the financial services provider's stock after selling 85,635 shares during the period. Tiptree makes up approximately 10.5% of Breach Inlet Capital Management LLC's portfolio, making the stock its 4th biggest holding. Breach Inlet Capital Management LLC owned 1.92% of Tiptree worth $14,843,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TIPT. KLP Kapitalforvaltning AS purchased a new stake in shares of Tiptree in the fourth quarter valued at approximately $83,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Tiptree during the 3rd quarter valued at about $85,000. FMR LLC increased its stake in Tiptree by 43.1% during the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider's stock worth $87,000 after buying an additional 1,339 shares during the period. Trexquant Investment LP lifted its holdings in Tiptree by 24.9% during the 4th quarter. Trexquant Investment LP now owns 13,221 shares of the financial services provider's stock worth $276,000 after buying an additional 2,635 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Tiptree by 31.9% during the 4th quarter. Wells Fargo & Company MN now owns 14,087 shares of the financial services provider's stock worth $294,000 after purchasing an additional 3,403 shares in the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

Tiptree Stock Down 2.8 %

NASDAQ TIPT traded down $0.61 on Thursday, hitting $21.53. 58,722 shares of the stock were exchanged, compared to its average volume of 96,117. The company has a 50-day moving average price of $21.95 and a 200-day moving average price of $21.09. The company has a market cap of $802.22 million, a PE ratio of 22.16 and a beta of 1.19. Tiptree Inc. has a fifty-two week low of $15.52 and a fifty-two week high of $26.90.

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

Tiptree Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 1.11%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree's dividend payout ratio is presently 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.