Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Tiptree Inc. (NASDAQ:TIPT)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Tiptree Inc. (NASDAQ:TIPT) by 14.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,119 shares of the financial services provider’s stock after purchasing an additional 4,542 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tiptree were worth $707,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TIPT. Quest Partners LLC bought a new position in shares of Tiptree in the third quarter worth about $149,000. Oppenheimer Asset Management Inc. lifted its holdings in Tiptree by 8.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,185 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 1,314 shares in the last quarter. GSA Capital Partners LLP boosted its stake in Tiptree by 4.2% in the 3rd quarter. GSA Capital Partners LLP now owns 84,854 shares of the financial services provider’s stock worth $1,661,000 after purchasing an additional 3,383 shares during the period. Tectonic Advisors LLC grew its holdings in Tiptree by 2.8% during the 3rd quarter. Tectonic Advisors LLC now owns 27,496 shares of the financial services provider’s stock valued at $538,000 after buying an additional 737 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new stake in shares of Tiptree during the third quarter valued at approximately $56,000. 37.78% of the stock is currently owned by institutional investors.

Tiptree Trading Up 1.1 %

Shares of TIPT stock opened at $22.50 on Friday. The stock has a market capitalization of $833.85 million, a price-to-earnings ratio of 23.20 and a beta of 1.30. Tiptree Inc. has a 12-month low of $14.96 and a 12-month high of $24.09. The stock’s 50-day moving average price is $20.47 and its 200-day moving average price is $18.79.

Tiptree Dividend Announcement

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

Analysts Set New Price Targets

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

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.