Oppenheimer Asset Management Inc. Grows Position in Tiptree Inc. (NASDAQ:TIPT)

Oppenheimer Asset Management Inc. boosted its position in shares of Tiptree Inc. (NASDAQ:TIPT) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,185 shares of the financial services provider’s stock after buying an additional 1,314 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tiptree were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TIPT. Allspring Global Investments Holdings LLC acquired a new position in shares of Tiptree during the second quarter valued at approximately $48,000. Copeland Capital Management LLC acquired a new position in Tiptree in the third quarter valued at approximately $56,000. The Manufacturers Life Insurance Company acquired a new position in shares of Tiptree in the 2nd quarter valued at $176,000. BNP Paribas Financial Markets raised its holdings in Tiptree by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock valued at $219,000 after buying an additional 2,576 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Tiptree in the 2nd quarter valued at approximately $231,000. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Tiptree Stock Down 0.8 %

NASDAQ TIPT opened at $21.46 on Thursday. The stock has a market capitalization of $795.22 million, a PE ratio of 22.12 and a beta of 1.30. The firm has a 50 day moving average of $20.24 and a two-hundred day moving average of $18.60. Tiptree Inc. has a 52 week low of $14.96 and a 52 week high of $24.09.

Tiptree Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a $0.06 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.24 annualized dividend and a yield of 1.12%. Tiptree’s dividend payout ratio is currently 24.74%.

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.