1 day Ago By ABMN Staff
Bank of New York Mellon Corp grew its stake in shares of Tiptree Inc. ( NASDAQ:TIPT – Free Report ) by 11.6% during the second quarter, Holdings Channel reports.
The institutional investor owned 114,595 shares of the financial services provider’s stock after acquiring an additional 11,901 shares during the period. Bank of New York Mellon Corp’s holdings in Tiptree were worth $1,890,000 at the end of the most recent reporting period. A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TIPT.
Sanders Morris Harris LLC bought a new stake in Tiptree during the second quarter worth approximately $495,000. Ancora Advisors LLC boosted its holdings in Tiptree by 16.7% in the first quarter.
Ancora Advisors LLC now owns 62,765 shares of the financial services provider’s stock worth $1,085,000 after purchasing an additional 8,969 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Tiptree during the 1st quarter valued at about $245,000.
Kennedy Capital Management LLC raised its stake in shares of Tiptree by 538.6% in the 1st quarter. Kennedy Capital Management LLC now owns 156,356 shares of the financial services provider’s stock valued at $2,702,000 after acquiring an additional 131,871 shares in the last quarter.
Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Tiptree by 8.5% during the 1st quarter.
Hillsdale Investment Management Inc. now owns 226,577 shares of the financial services provider’s stock worth $3,915,000 after buying an additional 17,700 shares during the period. 37.
78% of the stock is owned by institutional investors. Analysts Set New Price Targets Separately, StockNews.com downgraded shares of Tiptree from a “strong-buy” rating to a “buy” rating in a report on Tuesday.
Tiptree Trading Up 1.3 % NASDAQ TIPT opened at $19.95 on Wednesday.
Tiptree Inc. has a 1-year low of $14.74 and a 1-year high of $20.
80. The company has a 50 day moving average of $18.62 and a 200-day moving average of $17.
42. The firm has a market cap of $733.86 million, a price-to-earnings ratio of 34.
54 and a beta of 1.31. Tiptree ( NASDAQ:TIPT – Get Free Report ) last released its quarterly earnings results on Wednesday, July 31st.
The financial services provider reported $0.53 EPS for the quarter. The business had revenue of $546.
67 million for the quarter. Tiptree had a net margin of 1.62% and a return on equity of 11.
97%. Tiptree Announces Dividend The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were given a $0.
06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.
24 annualized dividend and a dividend yield of 1.20%. Tiptree’s dividend payout ratio is currently 42.
11%. 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. Featured Stories Want to see what other hedge funds are holding TIPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tiptree Inc.
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