Hodges Capital Management Inc. Sells 13,793 Shares of Tiptree Financial Inc. $TIPT

Hodges Capital Management Inc. trimmed its stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT) by 15.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 72,866 shares of the financial services provider’s stock after selling 13,793 shares during the quarter. Hodges Capital Management Inc.’s holdings in Tiptree Financial were worth $1,718,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC bought a new position in shares of Tiptree Financial during the second quarter valued at about $35,000. CWM LLC lifted its stake in shares of Tiptree Financial by 86.7% in the 1st quarter. CWM LLC now owns 1,535 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 713 shares during the period. Quantbot Technologies LP bought a new stake in shares of Tiptree Financial during the 1st quarter valued at $89,000. Strs Ohio bought a new stake in Tiptree Financial during the first quarter worth about $99,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Tiptree Financial during the second quarter valued at approximately $219,000. 37.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TIPT shares. Weiss Ratings restated a “buy (b-)” rating on shares of Tiptree Financial in a report on Friday, October 31st. Wall Street Zen downgraded shares of Tiptree Financial from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Tiptree Financial Stock Performance

NASDAQ:TIPT opened at $18.39 on Monday. The stock has a 50-day simple moving average of $20.12 and a two-hundred day simple moving average of $21.46. The firm has a market capitalization of $695.51 million, a PE ratio of 16.72 and a beta of 1.14. Tiptree Financial Inc. has a 52-week low of $17.07 and a 52-week high of $27.41.

Tiptree Financial (NASDAQ:TIPT) last released its earnings results on Friday, October 31st. The financial services provider reported $0.71 EPS for the quarter. The company had revenue of $540.30 million for the quarter. Tiptree Financial had a net margin of 2.44% and a return on equity of 14.30%.

Tiptree Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 17th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, November 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.3%. Tiptree Financial’s dividend payout ratio (DPR) is currently 21.82%.

About Tiptree Financial

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.