AQR Capital Management LLC Acquires New Position in Tiptree Inc. (NASDAQ:TIPT)

AQR Capital Management LLC purchased a new stake in Tiptree Inc. (NASDAQ:TIPT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 52,088 shares of the financial services provider's stock, valued at approximately $859,000. AQR Capital Management LLC owned 0.14% of Tiptree as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in Tiptree by 25.6% during the first quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider's stock valued at $219,000 after acquiring an additional 2,576 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Tiptree during the first quarter valued at approximately $446,000. Empowered Funds LLC grew its stake in Tiptree by 8.1% during the first quarter. Empowered Funds LLC now owns 155,893 shares of the financial services provider's stock valued at $2,694,000 after acquiring an additional 11,725 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Tiptree by 10.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider's stock worth $281,000 after buying an additional 1,473 shares in the last quarter. Finally, Steamboat Capital Partners LLC purchased a new position in Tiptree in the 1st quarter worth approximately $3,427,000. Institutional investors own 37.78% of the company's stock.

Tiptree Price Performance

TIPT stock traded up $0.76 during midday trading on Friday, reaching $19.92. The company had a trading volume of 90,777 shares, compared to its average volume of 92,677. Tiptree Inc. has a 1 year low of $14.74 and a 1 year high of $20.80. The company has a market capitalization of $732.76 million, a P/E ratio of 34.95 and a beta of 1.30. The firm has a 50-day moving average price of $19.13 and a 200-day moving average price of $17.75.

Tiptree (NASDAQ:TIPT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter. Tiptree had a net margin of 1.62% and a return on equity of 11.97%. The company had revenue of $546.67 million during the quarter.

Tiptree Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.20%. Tiptree's dividend payout ratio is currently 42.11%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Tiptree from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, September 25th.

Tiptree Company 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.