JPMorgan Chase & Co. Has $1.55 Million Position in Tiptree Inc. (NASDAQ:TIPT)

JPMorgan Chase & Co. boosted its holdings in shares of Tiptree Inc. (NASDAQ:TIPT) by 55.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,202 shares of the financial services provider’s stock after buying an additional 28,400 shares during the period. JPMorgan Chase & Co. owned about 0.21% of Tiptree worth $1,550,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TIPT. Mercer Global Advisors Inc. ADV acquired a new stake in Tiptree during the second quarter worth $671,000. Hsbc Holdings PLC lifted its holdings in shares of Tiptree by 22.0% during the second 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 period. Marshall Wace LLP lifted its holdings in shares of Tiptree by 114.0% during the second quarter. Marshall Wace LLP now owns 51,312 shares of the financial services provider’s stock valued at $846,000 after acquiring an additional 27,335 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Tiptree during the second quarter valued at $320,000. Finally, AQR Capital Management LLC bought a new position in shares of Tiptree during the second quarter valued at $859,000. Institutional investors and hedge funds own 37.78% of the company’s stock.

Tiptree Stock Performance

Shares of NASDAQ TIPT opened at $19.97 on Friday. The stock has a market cap of $740.09 million, a PE ratio of 20.59 and a beta of 1.32. The business has a fifty day moving average of $21.02 and a two-hundred day moving average of $19.90. Tiptree Inc. has a 52-week low of $14.96 and a 52-week high of $24.09.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%. The business had revenue of $494.36 million during the quarter.

Tiptree Announces Dividend

The firm also recently declared a special dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. Tiptree’s dividend payout ratio is 24.74%.

Analyst Ratings Changes

Separately, StockNews.com cut Tiptree from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

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.