Federated Hermes Inc. Sells 7,197 Shares of Tiptree Inc. (NASDAQ:TIPT)

Federated Hermes Inc. cut its holdings in Tiptree Inc. (NASDAQ:TIPT) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,702 shares of the financial services provider’s stock after selling 7,197 shares during the period. Federated Hermes Inc. owned 0.15% of Tiptree worth $902,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in Tiptree by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider’s stock worth $19,958,000 after acquiring an additional 17,660 shares in the last quarter. Breach Inlet Capital Management LLC bought a new stake in shares of Tiptree during the 4th quarter valued at $14,894,000. Cove Street Capital LLC raised its position in shares of Tiptree by 7.1% during the 1st quarter. Cove Street Capital LLC now owns 423,767 shares of the financial services provider’s stock valued at $7,323,000 after purchasing an additional 28,132 shares during the period. Hillsdale Investment Management Inc. lifted its stake 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 valued at $3,915,000 after buying an additional 17,700 shares in the last quarter. Finally, Steamboat Capital Partners LLC bought a new position in Tiptree in the 1st quarter worth $3,427,000. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Tiptree from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 17th.

Tiptree Trading Down 2.7 %

Shares of Tiptree stock opened at $19.56 on Monday. The firm has a market cap of $719.51 million, a PE ratio of 34.32 and a beta of 1.31. The stock has a 50 day moving average of $18.86 and a 200 day moving average of $17.49. Tiptree Inc. has a 12 month low of $14.74 and a 12 month high of $20.80.

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

Tiptree Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Monday, August 19th. Tiptree’s dividend payout ratio 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.