Geode Capital Management LLC Buys 7,974 Shares of Tiptree Inc. (NASDAQ:TIPT)

Geode Capital Management LLC grew its stake in Tiptree Inc. (NASDAQ:TIPT) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 559,905 shares of the financial services provider’s stock after acquiring an additional 7,974 shares during the quarter. Geode Capital Management LLC’s holdings in Tiptree were worth $10,959,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Barclays PLC boosted its stake in Tiptree by 74.2% in the 3rd quarter. Barclays PLC now owns 72,745 shares of the financial services provider’s stock worth $1,424,000 after purchasing an additional 30,985 shares in the last quarter. FMR LLC lifted its stake in shares of Tiptree by 43.1% in the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,339 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tiptree by 166.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock valued at $3,592,000 after buying an additional 114,568 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Tiptree during the second quarter valued at approximately $671,000. Finally, State Street Corp increased its position in shares of Tiptree by 1.9% during the third quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock valued at $9,673,000 after acquiring an additional 9,059 shares in the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

Tiptree Stock Performance

NASDAQ TIPT opened at $20.86 on Wednesday. Tiptree Inc. has a one year low of $14.96 and a one year high of $24.09. The stock has a 50-day moving average of $21.32 and a 200 day moving average of $19.50. The company has a market capitalization of $772.99 million, a price-to-earnings ratio of 21.51 and a beta of 1.31.

Tiptree Dividend Announcement

The business also recently announced 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 of this dividend was Wednesday, December 11th. Tiptree’s dividend payout ratio (DPR) is presently 24.74%.

Analyst Ratings Changes

Separately, StockNews.com lowered 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.