Tiptree Inc. (NASDAQ:TIPT) Shares Sold by Cove Street Capital LLC

Cove Street Capital LLC trimmed its position in Tiptree Inc. (NASDAQ:TIPT) by 52.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 83,760 shares of the financial services provider’s stock after selling 94,241 shares during the period. Tiptree accounts for 2.0% of Cove Street Capital LLC’s investment portfolio, making the stock its 21st biggest holding. Cove Street Capital LLC’s holdings in Tiptree were worth $1,746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TIPT. Algert Global LLC lifted its stake in Tiptree by 1.2% during the 3rd quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock valued at $932,000 after acquiring an additional 570 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in Tiptree by 5.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 18,680 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 1,000 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in Tiptree by 0.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 221,977 shares of the financial services provider’s stock worth $4,630,000 after purchasing an additional 1,200 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Tiptree by 0.7% during 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 during the last quarter. Finally, FMR LLC lifted its holdings in shares of Tiptree by 43.1% in the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,339 shares during the period. Institutional investors and hedge funds own 37.78% of the company’s stock.

Tiptree Stock Down 2.1 %

Tiptree stock opened at $23.27 on Friday. The business’s 50-day moving average price is $21.48 and its 200 day moving average price is $20.90. The firm has a market cap of $867.02 million, a price-to-earnings ratio of 23.99 and a beta of 1.31. Tiptree Inc. has a 52 week low of $15.52 and a 52 week high of $26.90.

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

Tiptree Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Monday, March 10th. Tiptree’s payout ratio is 18.60%.

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.