Charles Schwab Investment Management Inc. grew its stake in Tiptree Inc. (NASDAQ:TIPT - Free Report) by 166.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 183,552 shares of the financial services provider's stock after buying an additional 114,568 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.50% of Tiptree worth $3,592,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Tiptree in the 2nd quarter valued at about $48,000. Copeland Capital Management LLC purchased a new position in shares of Tiptree in the 3rd quarter valued at about $56,000. Quest Partners LLC purchased a new position in shares of Tiptree in the 3rd quarter valued at about $149,000. The Manufacturers Life Insurance Company purchased a new position in shares of Tiptree in the 2nd quarter valued at about $176,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Tiptree in the 2nd quarter valued at about $231,000. Institutional investors and hedge funds own 37.78% of the company's stock.
Tiptree Stock Performance
Shares of Tiptree stock traded down $0.09 on Friday, hitting $21.42. The company's stock had a trading volume of 53,769 shares, compared to its average volume of 89,794. Tiptree Inc. has a 1 year low of $14.96 and a 1 year high of $24.09. The firm has a fifty day moving average price of $21.10 and a 200-day moving average price of $19.21. The company has a market capitalization of $793.74 million, a price-to-earnings ratio of 22.08 and a beta of 1.31.
Tiptree Announces Dividend
The company also recently disclosed a special dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 11th. Tiptree's dividend payout ratio (DPR) is currently 24.74%.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered Tiptree from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st.
Check Out Our Latest Report on TIPT
About Tiptree
(
Free Report)
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.
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