Algert Global LLC Buys 3,379 Shares of Tiptree Inc. (NASDAQ:TIPT)

Algert Global LLC boosted its holdings in shares of Tiptree Inc. (NASDAQ:TIPT) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,059 shares of the financial services provider’s stock after buying an additional 3,379 shares during the period. Algert Global LLC owned approximately 0.13% of Tiptree worth $776,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Tiptree during the second quarter worth $48,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Tiptree in the second quarter valued at about $176,000. BNP Paribas Financial Markets raised its holdings in shares of Tiptree by 25.6% in the first quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 2,576 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Tiptree in the first quarter valued at about $245,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of 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 purchasing an additional 1,473 shares during the last quarter. Institutional investors and hedge funds own 37.78% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Tiptree from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 25th.

Tiptree Price Performance

Shares of TIPT stock opened at $19.76 on Friday. The firm has a 50-day moving average of $19.10 and a 200-day moving average of $17.66. The company has a market cap of $726.87 million, a P/E ratio of 34.67 and a beta of 1.30. Tiptree Inc. has a one year low of $14.74 and a one year high of $20.80.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share for the quarter. The company 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.21%. Tiptree’s payout ratio is currently 42.11%.

About Tiptree

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.