Bessemer Group Inc. boosted its position in Tiptree Inc (NASDAQ:TIPT) by 120.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,600 shares of the financial services provider’s stock after buying an additional 17,800 shares during the quarter. Bessemer Group Inc. owned 0.09% of Tiptree worth $214,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of TIPT. Tricadia Capital Management LLC lifted its holdings in Tiptree by 68.9% in the 2nd quarter. Tricadia Capital Management LLC now owns 10,261,752 shares of the financial services provider’s stock worth $69,780,000 after buying an additional 4,186,804 shares in the last quarter. TCW Group Inc. increased its position in shares of Tiptree by 50.7% in the 3rd quarter. TCW Group Inc. now owns 1,609,199 shares of the financial services provider’s stock worth $10,540,000 after purchasing an additional 541,402 shares during the last quarter. BlackRock Inc. increased its position in shares of Tiptree by 16.0% in the 2nd quarter. BlackRock Inc. now owns 1,389,423 shares of the financial services provider’s stock worth $9,448,000 after purchasing an additional 191,608 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tiptree by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,529,086 shares of the financial services provider’s stock worth $17,198,000 after purchasing an additional 80,044 shares during the last quarter. Finally, Martingale Asset Management L P bought a new stake in shares of Tiptree in the 2nd quarter worth about $386,000. Hedge funds and other institutional investors own 70.50% of the company’s stock.
Separately, BidaskClub downgraded shares of Tiptree from a “buy” rating to a “hold” rating in a research report on Friday, July 27th.
TIPT opened at $5.85 on Friday. Tiptree Inc has a 1-year low of $5.35 and a 1-year high of $7.10.
Tiptree (NASDAQ:TIPT) last released its earnings results on Monday, November 5th. The financial services provider reported ($0.02) earnings per share for the quarter. The company had revenue of $172.67 million during the quarter. Tiptree had a negative return on equity of 3.93% and a net margin of 5.41%.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 19th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Friday, November 16th.
Tiptree Inc, through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. It operates through three segments: Specialty Insurance, Asset Management, and Mortgage. The company provides credit protection insurance, warranty and service contract products, and insurance programs that underwrite niche personal and commercial lines of insurance, as well as offers value-add services, including premium finance and business processing services.
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