The Manufacturers Life Insurance Company Buys Shares of 10,660 Tiptree Inc. (NASDAQ:TIPT)

The Manufacturers Life Insurance Company purchased a new stake in Tiptree Inc. (NASDAQ:TIPT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,660 shares of the financial services provider’s stock, valued at approximately $176,000.

Several other hedge funds have also recently modified their holdings of the business. Kennedy Capital Management LLC raised its stake in Tiptree by 538.6% in the first quarter. Kennedy Capital Management LLC now owns 156,356 shares of the financial services provider’s stock worth $2,702,000 after buying an additional 131,871 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Tiptree in the 2nd quarter valued at $671,000. BNP Paribas Financial Markets raised its position 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 worth $219,000 after acquiring an additional 2,576 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tiptree by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider’s stock worth $19,958,000 after purchasing an additional 17,660 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in Tiptree during the second quarter valued at about $859,000. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Tiptree Stock Up 0.3 %

NASDAQ:TIPT opened at $20.95 on Friday. The firm has a 50 day moving average of $19.39 and a 200 day moving average of $17.85. Tiptree Inc. has a 52 week low of $14.74 and a 52 week high of $21.13. The stock has a market capitalization of $770.65 million, a price-to-earnings ratio of 36.75 and a beta of 1.30.

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

Tiptree Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.15%. Tiptree’s payout ratio is 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.