Cannell Capital LLC Sells 212,796 Shares of Tiptree Inc. (NASDAQ:TIPT)

Cannell Capital LLC decreased its position in Tiptree Inc. (NASDAQ:TIPT - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 544,619 shares of the financial services provider's stock after selling 212,796 shares during the period. Tiptree makes up 2.3% of Cannell Capital LLC's holdings, making the stock its 18th biggest holding. Cannell Capital LLC owned about 1.47% of Tiptree worth $11,361,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Tiptree in the 4th quarter valued at about $83,000. FMR LLC increased its holdings in Tiptree by 43.1% in the third quarter. FMR LLC now owns 4,449 shares of the financial services provider's stock worth $87,000 after purchasing an additional 1,339 shares in the last quarter. Trexquant Investment LP lifted its stake in Tiptree by 24.9% in the fourth quarter. Trexquant Investment LP now owns 13,221 shares of the financial services provider's stock valued at $276,000 after buying an additional 2,635 shares during the period. Wells Fargo & Company MN lifted its stake in Tiptree by 31.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,087 shares of the financial services provider's stock valued at $294,000 after buying an additional 3,403 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Tiptree by 23.5% during the 4th quarter. SG Americas Securities LLC now owns 15,485 shares of the financial services provider's stock worth $323,000 after buying an additional 2,944 shares in the last quarter. Institutional investors own 37.78% of the company's stock.

Tiptree Price Performance

Shares of NASDAQ:TIPT traded up $0.13 during mid-day trading on Friday, hitting $21.67. The company had a trading volume of 112,870 shares, compared to its average volume of 96,583. Tiptree Inc. has a one year low of $15.52 and a one year high of $26.90. The firm has a fifty day moving average price of $22.00 and a 200 day moving average price of $21.14. The company has a market capitalization of $807.40 million, a PE ratio of 22.34 and a beta of 1.19.

Tiptree (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.67 earnings per share 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 company 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 yield of 1.11%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree's dividend payout ratio (DPR) is currently 18.60%.

Tiptree 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.