Cubist Systematic Strategies LLC Purchases New Position in Tiptree Inc. (NASDAQ:TIPT)

Cubist Systematic Strategies LLC acquired a new position in shares of Tiptree Inc. (NASDAQ:TIPT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,384 shares of the financial services provider’s stock, valued at approximately $320,000. Cubist Systematic Strategies LLC owned about 0.05% of Tiptree as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Steamboat Capital Partners LLC purchased a new position in shares of Tiptree during the first quarter worth approximately $3,427,000. Kennedy Capital Management LLC boosted its stake in Tiptree by 538.6% during the 1st quarter. Kennedy Capital Management LLC now owns 156,356 shares of the financial services provider’s stock worth $2,702,000 after purchasing an additional 131,871 shares during the period. Millennium Management LLC boosted its stake in Tiptree by 58.7% during the 2nd quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock worth $3,387,000 after purchasing an additional 75,943 shares during the period. AQR Capital Management LLC purchased a new position in Tiptree during the 2nd quarter worth $859,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Tiptree in the second quarter valued at $671,000. Institutional investors and hedge funds own 37.78% of the company’s stock.

Tiptree Trading Up 4.0 %

Shares of TIPT stock opened at $19.92 on Monday. The company has a market capitalization of $732.76 million, a P/E ratio of 34.95 and a beta of 1.30. The business’s 50 day moving average is $19.13 and its two-hundred day moving average is $17.75. Tiptree Inc. has a twelve month low of $14.74 and a twelve month high of $20.80.

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

Tiptree Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. Tiptree’s dividend payout ratio (DPR) is 42.11%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Tiptree from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 25th.

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.