Empowered Funds LLC lessened its holdings in shares of Tiptree Inc. (NASDAQ:TIPT - Free Report) by 32.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,694 shares of the financial services provider's stock after selling 55,259 shares during the quarter. Empowered Funds LLC owned about 0.31% of Tiptree worth $2,205,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Tiptree during the second quarter worth approximately $48,000. Copeland Capital Management LLC purchased a new position in shares of Tiptree during the third quarter worth approximately $56,000. The Manufacturers Life Insurance Company purchased a new position in shares of Tiptree during the second quarter worth approximately $176,000. BNP Paribas Financial Markets grew its position in shares of Tiptree by 25.6% during the first quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider's stock worth $219,000 after acquiring an additional 2,576 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Tiptree during the second quarter worth approximately $231,000. Institutional investors and hedge funds own 37.78% of the company's stock.
Tiptree Price Performance
Shares of TIPT traded down $0.11 during mid-day trading on Thursday, reaching $21.35. 67,360 shares of the company's stock were exchanged, compared to its average volume of 90,945. The stock has a market capitalization of $791.23 million, a PE ratio of 22.05 and a beta of 1.30. The business's fifty day simple moving average is $20.24 and its 200-day simple moving average is $18.60. Tiptree Inc. has a 52-week low of $14.96 and a 52-week high of $24.09.
Tiptree Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.12%. Tiptree's dividend payout ratio (DPR) is 24.74%.
Analysts Set New Price Targets
Separately, StockNews.com lowered shares of Tiptree from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st.
Check Out Our Latest Stock Analysis 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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