Federated Hermes Inc. Reduces Holdings in Tiptree Inc. (NASDAQ:TIPT)

Federated Hermes Inc. decreased its position in shares of Tiptree Inc. (NASDAQ:TIPT) by 11.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,702 shares of the financial services provider’s stock after selling 7,197 shares during the period. Federated Hermes Inc.’s holdings in Tiptree were worth $902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TIPT. Rhumbline Advisers grew its stake in Tiptree by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 38,566 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 1,977 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Tiptree in the second quarter worth approximately $48,000. Bank of New York Mellon Corp grew its stake in Tiptree by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 114,595 shares of the financial services provider’s stock worth $1,890,000 after purchasing an additional 11,901 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in Tiptree during the 2nd quarter valued at $495,000. Finally, Ancora Advisors LLC lifted its holdings in shares of Tiptree by 16.7% in the 1st quarter. Ancora Advisors LLC now owns 62,765 shares of the financial services provider’s stock worth $1,085,000 after buying an additional 8,969 shares during the period. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Tiptree from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 17th.

Tiptree Stock Performance

Shares of TIPT opened at $19.56 on Monday. The company has a 50 day moving average price of $18.86 and a 200-day moving average price of $17.49. Tiptree Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $20.80. The stock has a market capitalization of $719.51 million, a PE ratio of 34.32 and a beta of 1.31.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 EPS for the quarter. Tiptree had a net margin of 1.62% and a return on equity of 11.97%. The business had revenue of $546.67 million during the quarter.

Tiptree Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. Tiptree’s dividend payout ratio is presently 42.11%.

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.