Cove Street Capital LLC Sells 94,241 Shares of Tiptree Inc. (NASDAQ:TIPT)

Cove Street Capital LLC lessened its stake in shares of Tiptree Inc. (NASDAQ:TIPT - Free Report) by 52.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,760 shares of the financial services provider's stock after selling 94,241 shares during the quarter. Tiptree comprises 2.0% of Cove Street Capital LLC's investment portfolio, making the stock its 21st biggest holding. Cove Street Capital LLC owned about 0.23% of Tiptree worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Tiptree by 76.5% in the 4th quarter. JPMorgan Chase & Co. now owns 139,797 shares of the financial services provider's stock valued at $2,916,000 after purchasing an additional 60,595 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Tiptree in the 4th quarter worth about $83,000. Hillsdale Investment Management Inc. lifted its position in Tiptree by 0.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 221,977 shares of the financial services provider's stock valued at $4,630,000 after acquiring an additional 1,200 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Tiptree by 4.3% during the 4th quarter. Teacher Retirement System of Texas now owns 41,444 shares of the financial services provider's stock valued at $865,000 after purchasing an additional 1,719 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Tiptree by 15.0% during 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. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Tiptree Price Performance

Shares of TIPT stock traded down $0.33 during trading hours on Thursday, reaching $23.85. The company had a trading volume of 77,980 shares, compared to its average volume of 92,712. The company has a market cap of $888.63 million, a price-to-earnings ratio of 24.59 and a beta of 1.31. Tiptree Inc. has a 12 month low of $15.52 and a 12 month high of $26.90. The business has a fifty day simple moving average of $21.71 and a 200-day simple moving average of $21.00.

Tiptree (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter. The firm had revenue of $503.60 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 announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 1.01%. Tiptree's dividend payout ratio 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.