Tiptree Inc. (NASDAQ:TIPT) Shares Bought by Marshall Wace LLP

Marshall Wace LLP lifted its stake in shares of Tiptree Inc. (NASDAQ:TIPT) by 114.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,312 shares of the financial services provider’s stock after buying an additional 27,335 shares during the quarter. Marshall Wace LLP owned approximately 0.14% of Tiptree worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in Tiptree by 22.0% during the 2nd quarter. Hsbc Holdings PLC now owns 18,563 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 3,342 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Tiptree during the second quarter worth about $671,000. Rhumbline Advisers lifted its position in shares of Tiptree by 5.4% during the second quarter. Rhumbline Advisers now owns 38,566 shares of the financial services provider’s stock worth $636,000 after purchasing an additional 1,977 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Tiptree in the second quarter worth about $48,000. Finally, Bank of New York Mellon Corp increased its holdings in Tiptree by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 114,595 shares of the financial services provider’s stock valued at $1,890,000 after buying an additional 11,901 shares during the last quarter. Institutional investors and hedge funds own 37.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Tiptree Price Performance

TIPT stock opened at $19.02 on Wednesday. The firm has a market cap of $699.65 million, a price-to-earnings ratio of 33.37 and a beta of 1.30. Tiptree Inc. has a 1-year low of $14.74 and a 1-year high of $20.80. The firm has a fifty day moving average price of $19.08 and a two-hundred day moving average price of $17.69.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 EPS for the quarter. The business 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. Stockholders of record on Monday, August 19th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, August 19th. Tiptree’s payout ratio is 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.