Quest Partners LLC Buys Shares of 7,613 Tiptree Inc. (NASDAQ:TIPT)

Quest Partners LLC purchased a new position in shares of Tiptree Inc. (NASDAQ:TIPT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,613 shares of the financial services provider’s stock, valued at approximately $149,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Copeland Capital Management LLC bought a new position in Tiptree during the third quarter worth $56,000. Allspring Global Investments Holdings LLC bought a new position in shares of Tiptree in the 2nd quarter worth about $48,000. The Manufacturers Life Insurance Company acquired a new position in shares of Tiptree in the 2nd quarter valued at about $176,000. SG Americas Securities LLC boosted its position in shares of Tiptree by 98.5% during the 3rd quarter. SG Americas Securities LLC now owns 12,541 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 6,223 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Tiptree during the second quarter worth approximately $231,000. Institutional investors and hedge funds own 37.78% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Tiptree from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

Tiptree Trading Up 1.1 %

TIPT opened at $22.50 on Friday. The company has a fifty day moving average price of $20.47 and a two-hundred day moving average price of $18.79. Tiptree Inc. has a 1-year low of $14.96 and a 1-year high of $24.09. The company has a market cap of $833.85 million, a P/E ratio of 23.20 and a beta of 1.30.

Tiptree Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Monday, November 18th. Tiptree’s payout ratio is 24.74%.

About Tiptree

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.