Empowered Funds LLC trimmed its holdings in shares of Tiptree Inc. (NASDAQ:TIPT - Free Report) by 32.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,694 shares of the financial services provider's stock after selling 55,259 shares during the period. Empowered Funds LLC owned about 0.31% of Tiptree worth $2,205,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of TIPT. Copeland Capital Management LLC acquired a new position in Tiptree in the 3rd quarter valued at $56,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Tiptree during the second quarter worth $48,000. The Manufacturers Life Insurance Company acquired a new position in Tiptree in the 2nd quarter worth $176,000. SG Americas Securities LLC lifted its stake in shares of Tiptree by 98.5% in the third quarter. SG Americas Securities LLC now owns 12,541 shares of the financial services provider's stock worth $245,000 after acquiring an additional 6,223 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of 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 purchasing an additional 2,576 shares in the last quarter. Hedge funds and other institutional investors own 37.78% of the company's stock.
Tiptree Trading Down 0.8 %
Shares of NASDAQ TIPT opened at $21.46 on Thursday. The business has a 50 day simple moving average of $20.24 and a 200-day simple moving average of $18.60. Tiptree Inc. has a twelve month low of $14.96 and a twelve month high of $24.09. The company has a market capitalization of $795.31 million, a price-to-earnings ratio of 22.12 and a beta of 1.30.
Tiptree Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, November 18th. Tiptree's dividend payout ratio (DPR) is presently 24.74%.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of Tiptree from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st.
View Our Latest Stock Report on TIPT
Tiptree Company Profile
(
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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