Hodges Capital Management Inc. Decreases Stake in Tiptree Inc. (NASDAQ:TIPT)

Hodges Capital Management Inc. reduced its stake in shares of Tiptree Inc. (NASDAQ:TIPT) by 12.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,055 shares of the financial services provider’s stock after selling 17,635 shares during the period. Hodges Capital Management Inc.’s holdings in Tiptree were worth $2,127,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of Tiptree by 272.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 1,555 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Tiptree by 34.5% in the 4th quarter. SG Americas Securities LLC now owns 11,829 shares of the financial services provider’s stock worth $224,000 after buying an additional 3,035 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Tiptree by 9.2% in the 3rd quarter. Hsbc Holdings PLC now owns 18,927 shares of the financial services provider’s stock worth $319,000 after buying an additional 1,595 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Tiptree in the 4th quarter worth about $367,000. Finally, NFC Investments LLC purchased a new stake in shares of Tiptree in the 4th quarter worth about $416,000. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tiptree

In other news, CEO Jonathan Ilany bought 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $17.50 per share, with a total value of $27,125.00. Following the purchase, the chief executive officer now owns 192,021 shares of the company’s stock, valued at approximately $3,360,367.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.78% of the stock is currently owned by corporate insiders.

Tiptree Stock Up 0.2 %

Tiptree stock opened at $16.49 on Friday. Tiptree Inc. has a 52 week low of $14.26 and a 52 week high of $20.80. The firm’s 50-day simple moving average is $16.81 and its 200 day simple moving average is $17.47. The firm has a market capitalization of $606.58 million, a PE ratio of 28.93 and a beta of 1.30.

Tiptree (NASDAQ:TIPT) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $0.44 earnings per share for the quarter. Tiptree had a net margin of 1.36% and a return on equity of 12.49%. The firm had revenue of $498.22 million during the quarter.

Tiptree Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 20th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, May 17th. Tiptree’s payout ratio is 42.11%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Tiptree from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 19th.

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.