Franklin Resources Inc. Sells 39,385 Shares of Tiptree Inc. (NASDAQ:TIPT)

Franklin Resources Inc. lessened its holdings in Tiptree Inc. (NASDAQ:TIPT - Free Report) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,094 shares of the financial services provider's stock after selling 39,385 shares during the quarter. Franklin Resources Inc. owned 0.26% of Tiptree worth $1,984,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TIPT. Alliancebernstein L.P. increased its holdings in shares of Tiptree by 25.0% during the fourth quarter. Alliancebernstein L.P. now owns 23,560 shares of the financial services provider's stock worth $491,000 after purchasing an additional 4,710 shares during the period. JPMorgan Chase & Co. increased its stake in Tiptree by 76.5% during the 4th quarter. JPMorgan Chase & Co. now owns 139,797 shares of the financial services provider's stock worth $2,916,000 after acquiring an additional 60,595 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Tiptree in the 4th quarter valued at $83,000. Hillsdale Investment Management Inc. lifted its position in shares of Tiptree by 0.5% during 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 during the period. Finally, Teacher Retirement System of Texas grew its holdings in shares of 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 worth $865,000 after purchasing an additional 1,719 shares in the last quarter. 37.78% of the stock is owned by institutional investors.

Tiptree Price Performance

TIPT stock traded down $0.21 during midday trading on Friday, reaching $22.51. The company had a trading volume of 95,629 shares, compared to its average volume of 97,698. Tiptree Inc. has a 1-year low of $15.54 and a 1-year high of $26.90. The stock has a 50 day moving average price of $22.20 and a 200-day moving average price of $21.22. The company has a market capitalization of $838.70 million, a price-to-earnings ratio of 23.21 and a beta of 1.19.

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

Tiptree Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.07%. 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.