Hodges Capital Management Inc. Lowers Stock Position in Tiptree Inc. (NASDAQ:TIPT)

Hodges Capital Management Inc. cut its position in shares of Tiptree Inc. (NASDAQ:TIPT) by 12.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,055 shares of the financial services provider’s stock after selling 17,635 shares during the period. Hodges Capital Management Inc. owned 0.33% of Tiptree worth $2,127,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TIPT. Breach Inlet Capital Management LLC purchased a new stake in Tiptree during the fourth quarter worth $14,894,000. Cannell Capital LLC raised its position in 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 acquiring an additional 129,529 shares during the period. Cove Street Capital LLC raised its position in Tiptree by 11.6% during the fourth quarter. Cove Street Capital LLC now owns 395,635 shares of the financial services provider’s stock worth $7,501,000 after acquiring an additional 41,277 shares during the period. First Dallas Securities Inc. acquired a new position in Tiptree during the third quarter worth $452,000. Finally, NFC Investments LLC acquired a new position in Tiptree during the fourth quarter worth $416,000. 37.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tiptree news, CEO Jonathan Ilany bought 1,550 shares of Tiptree stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $17.50 per share, for a total transaction of $27,125.00. Following the completion of the transaction, the chief executive officer now directly owns 192,021 shares of the company’s stock, valued at $3,360,367.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 31.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Tiptree from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 19th.

Tiptree Stock Performance

NASDAQ:TIPT opened at $16.49 on Friday. The company has a fifty day moving average of $16.81 and a two-hundred day moving average of $17.47. The stock has a market capitalization of $606.58 million, a PE ratio of 28.93 and a beta of 1.30. Tiptree Inc. has a fifty-two week low of $14.26 and a fifty-two week high of $20.80.

Tiptree (NASDAQ:TIPT) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $0.44 EPS for the quarter. The business had revenue of $498.22 million during the quarter. Tiptree had a net margin of 1.36% and a return on equity of 12.49%.

Tiptree Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 20th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, May 17th. Tiptree’s dividend payout ratio (DPR) is 42.11%.

Tiptree 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.