Bank of New York Mellon Corp Raises Stock Position in Tiptree Inc. (NASDAQ:TIPT)

Bank of New York Mellon Corp lifted its stake in shares of Tiptree Inc. (NASDAQ:TIPT) by 11.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,595 shares of the financial services provider’s stock after buying an additional 11,901 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.31% of Tiptree worth $1,890,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of Tiptree by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock valued at $219,000 after buying an additional 2,576 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Tiptree in the first quarter valued at $245,000. Oppenheimer Asset Management Inc. increased its holdings in Tiptree by 10.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider’s stock valued at $281,000 after buying an additional 1,473 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Tiptree during the first quarter worth $446,000. Finally, Sanders Morris Harris LLC purchased a new position in Tiptree during the 2nd quarter valued at about $495,000. 37.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Tiptree from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

Tiptree Price Performance

Shares of TIPT stock opened at $19.95 on Wednesday. The firm has a market cap of $733.86 million, a P/E ratio of 34.54 and a beta of 1.31. Tiptree Inc. has a 1-year low of $14.74 and a 1-year high of $20.80. The firm’s 50-day simple moving average is $18.62 and its 200-day simple moving average is $17.42.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 EPS for the quarter. The firm had revenue of $546.67 million for the quarter. Tiptree had a return on equity of 11.97% and a net margin of 1.62%.

Tiptree Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, August 19th. Tiptree’s dividend payout ratio is currently 42.11%.

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.