State Street Corp Grows Stake in Tiptree Inc. (NASDAQ:TIPT)

State Street Corp boosted its position in shares of Tiptree Inc. (NASDAQ:TIPT) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 494,299 shares of the financial services provider’s stock after acquiring an additional 9,059 shares during the quarter. State Street Corp owned 1.33% of Tiptree worth $9,673,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Tiptree by 166.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock valued at $3,592,000 after purchasing an additional 114,568 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Tiptree during the second quarter valued at approximately $671,000. FMR LLC increased its holdings in Tiptree by 43.1% during the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,339 shares during the last quarter. AQR Capital Management LLC bought a new position in Tiptree in the second quarter worth approximately $859,000. Finally, Millennium Management LLC boosted its stake in shares of Tiptree by 58.7% during the 2nd quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock worth $3,387,000 after acquiring an additional 75,943 shares during the last quarter. Institutional investors own 37.78% of the company’s stock.

Tiptree Trading Up 0.3 %

Shares of NASDAQ:TIPT opened at $21.31 on Friday. The stock has a 50 day moving average of $21.29 and a 200 day moving average of $19.37. The company has a market cap of $789.66 million, a PE ratio of 21.97 and a beta of 1.31. Tiptree Inc. has a 12-month low of $14.96 and a 12-month high of $24.09.

Tiptree Announces Dividend

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

Analyst Upgrades and Downgrades

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

Tiptree 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.