Raymond James Financial Inc. Makes New $642,000 Investment in Tiptree Inc. (NASDAQ:TIPT)

Raymond James Financial Inc. bought a new stake in shares of Tiptree Inc. (NASDAQ:TIPT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,778 shares of the financial services provider's stock, valued at approximately $642,000. Raymond James Financial Inc. owned approximately 0.08% of Tiptree at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TIPT. Barclays PLC lifted its stake in Tiptree by 74.2% in the third quarter. Barclays PLC now owns 72,745 shares of the financial services provider's stock valued at $1,424,000 after buying an additional 30,985 shares during the period. FMR LLC grew 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 during the period. Charles Schwab Investment Management Inc. increased its stake in Tiptree by 166.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider's stock valued at $3,592,000 after purchasing an additional 114,568 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Tiptree by 55.9% during the third quarter. JPMorgan Chase & Co. now owns 79,202 shares of the financial services provider's stock valued at $1,550,000 after purchasing an additional 28,400 shares during the period. Finally, State Street Corp boosted its position in shares of Tiptree by 1.9% during the 3rd quarter. State Street Corp now owns 494,299 shares of the financial services provider's stock worth $9,673,000 after purchasing an additional 9,059 shares in the last quarter. Institutional investors and hedge funds own 37.78% of the company's stock.

Tiptree Price Performance

Shares of TIPT stock traded up $0.13 on Friday, reaching $21.67. 112,870 shares of the company were exchanged, compared to its average volume of 96,472. Tiptree Inc. has a one year low of $15.52 and a one year high of $26.90. The company has a market cap of $807.40 million, a price-to-earnings ratio of 22.34 and a beta of 1.19. The company has a 50-day moving average of $22.00 and a 200-day moving average of $21.13.

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

Tiptree Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 annualized dividend and a yield of 1.11%. Tiptree's payout ratio is 18.60%.

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.