Renaissance Technologies LLC Sells 2,737 Shares of Tiptree Inc. (NASDAQ:TIPT)

Renaissance Technologies LLC cut its stake in Tiptree Inc. (NASDAQ:TIPT) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,600 shares of the financial services provider’s stock after selling 2,737 shares during the period. Renaissance Technologies LLC’s holdings in Tiptree were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in TIPT. Allspring Global Investments Holdings LLC bought a new stake in shares of Tiptree in the second quarter valued at about $48,000. BNP Paribas Financial Markets raised its position 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 last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Tiptree in the 1st quarter valued at approximately $245,000. Oppenheimer Asset Management Inc. lifted its stake in Tiptree by 10.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 1,473 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Tiptree during the 1st quarter worth approximately $446,000. Institutional investors own 37.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tiptree Trading Up 0.5 %

Shares of TIPT stock opened at $19.11 on Thursday. The firm’s fifty day moving average price is $19.07 and its two-hundred day moving average price is $17.70. Tiptree Inc. has a 1 year low of $14.74 and a 1 year high of $20.80. The firm has a market capitalization of $702.96 million, a P/E ratio of 33.53 and a beta of 1.30.

Tiptree (NASDAQ:TIPT) last announced 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 company had revenue of $546.67 million during the quarter.

Tiptree Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, August 19th. Tiptree’s dividend payout ratio (DPR) is 42.11%.

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.