State Street Corp Increases Stake in Tiptree Inc. (NASDAQ:TIPT)

State Street Corp lifted its stake in Tiptree Inc. (NASDAQ:TIPT) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 494,299 shares of the financial services provider’s stock after buying an additional 9,059 shares during the quarter. State Street Corp’s holdings in Tiptree were worth $9,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Tiptree by 166.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock valued at $3,592,000 after acquiring an additional 114,568 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Tiptree during the second quarter valued at about $671,000. FMR LLC increased its holdings in shares of Tiptree by 43.1% in the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,339 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Tiptree in the second quarter worth about $859,000. Finally, Millennium Management LLC lifted its position in shares of Tiptree by 58.7% in the second quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock worth $3,387,000 after buying an additional 75,943 shares in the last quarter. Institutional investors own 37.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tiptree Stock Performance

Shares of TIPT opened at $21.31 on Friday. The stock has a market capitalization of $789.66 million, a PE ratio of 21.97 and a beta of 1.31. The company’s fifty day moving average is $21.29 and its 200 day moving average is $19.37. Tiptree Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $24.09.

Tiptree Dividend Announcement

The firm also recently announced a special dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. Tiptree’s dividend payout ratio (DPR) is presently 24.74%.

Tiptree 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.