Royce & Associates LP Buys 68,338 Shares of Tiptree Inc. (NASDAQ:TIPT)

Royce & Associates LP boosted its stake in shares of Tiptree Inc. (NASDAQ:TIPT) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 524,247 shares of the financial services provider’s stock after acquiring an additional 68,338 shares during the period. Royce & Associates LP owned 1.41% of Tiptree worth $10,936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Algert Global LLC grew its holdings in shares of Tiptree by 1.2% during the 3rd quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock worth $932,000 after purchasing an additional 570 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in Tiptree by 5.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 18,680 shares of the financial services provider’s stock valued at $390,000 after buying an additional 1,000 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Tiptree by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 184,823 shares of the financial services provider’s stock valued at $3,855,000 after buying an additional 1,271 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Tiptree by 8.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,185 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 1,314 shares during the period. Finally, FMR LLC boosted its position in shares of Tiptree by 43.1% during the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,339 shares in the last quarter. 37.78% of the stock is owned by institutional investors and hedge funds.

Tiptree Price Performance

Shares of NASDAQ:TIPT opened at $22.71 on Tuesday. The company’s 50 day simple moving average is $20.77 and its 200 day simple moving average is $20.63. Tiptree Inc. has a 1 year low of $15.52 and a 1 year high of $24.09. The stock has a market capitalization of $846.15 million, a price-to-earnings ratio of 23.41 and a beta of 1.31.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.67 EPS for the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%. The company had revenue of $503.60 million during the quarter.

Tiptree Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.06 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.06%. Tiptree’s dividend payout ratio (DPR) is currently 18.60%.

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.