Millennium Management LLC Has $3.39 Million Holdings in Tiptree Inc. (NASDAQ:TIPT)

Millennium Management LLC lifted its stake in shares of Tiptree Inc. (NASDAQ:TIPT - Free Report) by 58.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,416 shares of the financial services provider's stock after purchasing an additional 75,943 shares during the quarter. Millennium Management LLC owned 0.56% of Tiptree worth $3,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Tiptree during the second quarter worth about $48,000. BNP Paribas Financial Markets increased its position in Tiptree by 25.6% in the 1st 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 during the period. Jacobs Levy Equity Management Inc. acquired a new position in Tiptree in the 1st quarter valued at approximately $245,000. Oppenheimer Asset Management Inc. raised its stake in shares of Tiptree by 10.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider's stock valued at $281,000 after acquiring an additional 1,473 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Tiptree by 22.0% in the second quarter. Hsbc Holdings PLC now owns 18,563 shares of the financial services provider's stock worth $302,000 after purchasing an additional 3,342 shares during the last quarter. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tiptree Trading Up 0.4 %

TIPT stock traded up $0.07 during trading on Monday, hitting $19.99. The company had a trading volume of 50,507 shares, compared to its average volume of 92,464. The stock has a market cap of $735.33 million, a PE ratio of 35.19 and a beta of 1.30. The business has a 50-day moving average of $19.13 and a 200-day moving average of $17.75. Tiptree Inc. has a one year low of $14.74 and a one year high of $20.80.

Tiptree (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, August 19th. Tiptree's dividend payout ratio is 42.11%.

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.