TCW Group Inc. reduced its position in shares of Tiptree Inc. (NASDAQ:TIPT - Free Report) by 13.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 363,098 shares of the financial services provider's stock after selling 55,153 shares during the quarter. TCW Group Inc. owned about 0.98% of Tiptree worth $7,106,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Tiptree by 1.4% in the third quarter. Geode Capital Management LLC now owns 559,905 shares of the financial services provider's stock valued at $10,959,000 after buying an additional 7,974 shares in the last quarter. Barclays PLC raised its holdings in shares of Tiptree by 74.2% in the 3rd quarter. Barclays PLC now owns 72,745 shares of the financial services provider's stock worth $1,424,000 after acquiring an additional 30,985 shares during the last quarter. Hodges Capital Management Inc. raised its holdings in shares of Tiptree by 1.2% in the 3rd quarter. Hodges Capital Management Inc. now owns 124,584 shares of the financial services provider's stock worth $2,438,000 after acquiring an additional 1,529 shares during the last quarter. State Street Corp lifted its position in Tiptree by 1.9% in the 3rd quarter. State Street Corp now owns 494,299 shares of the financial services provider's stock valued at $9,673,000 after acquiring an additional 9,059 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Tiptree during the 3rd quarter valued at about $85,000. Institutional investors own 37.78% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Tiptree from a "strong-buy" rating to a "buy" rating in a report on Friday, November 1st.
Get Our Latest Analysis on TIPT
Tiptree Stock Down 0.2 %
Tiptree stock traded down $0.04 during midday trading on Thursday, hitting $21.51. 50,032 shares of the stock were exchanged, compared to its average volume of 89,944. Tiptree Inc. has a 52-week low of $14.96 and a 52-week high of $24.09. The business's 50-day moving average price is $21.07 and its 200-day moving average price is $19.15. The stock has a market capitalization of $797.07 million, a price-to-earnings ratio of 22.18 and a beta of 1.31.
Tiptree Dividend Announcement
The firm also recently announced a special dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 11th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, December 11th. Tiptree's payout ratio is presently 24.74%.
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.
Further Reading
Before you consider Tiptree, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tiptree wasn't on the list.
While Tiptree currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
