Raymond James & Associates Has $1.34 Million Stake in Tiptree Inc. (NASDAQ:TIPT)

Raymond James & Associates trimmed its stake in shares of Tiptree Inc. (NASDAQ:TIPT) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,577 shares of the financial services provider’s stock after selling 4,523 shares during the period. Raymond James & Associates owned approximately 0.19% of Tiptree worth $1,338,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of Tiptree by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,743,963 shares of the financial services provider’s stock worth $39,979,000 after purchasing an additional 11,807 shares in the last quarter. BlackRock Inc. lifted its position in shares of Tiptree by 13.8% during the second quarter. BlackRock Inc. now owns 1,855,766 shares of the financial services provider’s stock worth $27,855,000 after purchasing an additional 224,891 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Tiptree by 0.3% during the third quarter. Vanguard Group Inc. now owns 1,102,216 shares of the financial services provider’s stock worth $18,473,000 after purchasing an additional 3,441 shares in the last quarter. Cannell Capital LLC lifted its position in shares of Tiptree by 17.2% during the third quarter. Cannell Capital LLC now owns 884,084 shares of the financial services provider’s stock worth $14,817,000 after purchasing an additional 129,529 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Tiptree by 1.2% during the second quarter. State Street Corp now owns 457,829 shares of the financial services provider’s stock worth $6,872,000 after purchasing an additional 5,597 shares in the last quarter. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tiptree

In other news, CEO Jonathan Ilany bought 2,900 shares of the stock in a transaction on Tuesday, March 5th. The stock was purchased at an average price of $16.95 per share, with a total value of $49,155.00. Following the completion of the purchase, the chief executive officer now owns 190,471 shares of the company’s stock, valued at $3,228,483.45. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 31.78% of the company’s stock.

Tiptree Price Performance

TIPT opened at $16.34 on Friday. The company has a market cap of $600.47 million, a price-to-earnings ratio of 51.05 and a beta of 1.19. The firm has a 50 day simple moving average of $16.85 and a 200 day simple moving average of $17.53. Tiptree Inc. has a fifty-two week low of $12.12 and a fifty-two week high of $20.80.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $0.20 earnings per share for the quarter. The business had revenue of $446.37 million during the quarter. Tiptree had a net margin of 0.85% and a return on equity of 11.10%.

Tiptree Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 11th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Tiptree’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, March 8th. Tiptree’s payout ratio is 75.00%.

Wall Street Analyst Weigh In

Separately, TheStreet downgraded shares of Tiptree from a “b-” rating to a “c+” rating in a research note on Friday, December 29th.

Tiptree Company Profile

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.