Quest Partners LLC Takes $149,000 Position in Tiptree Inc. (NASDAQ:TIPT)

Quest Partners LLC purchased a new position in Tiptree Inc. (NASDAQ:TIPT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,613 shares of the financial services provider’s stock, valued at approximately $149,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TIPT. Millennium Management LLC lifted its stake in Tiptree by 58.7% during the second 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 last quarter. AQR Capital Management LLC bought a new stake in shares of Tiptree during the 2nd quarter worth $859,000. Mercer Global Advisors Inc. ADV acquired a new stake in Tiptree in the second quarter valued at about $671,000. Sanders Morris Harris LLC bought a new position in Tiptree in the second quarter valued at about $495,000. Finally, Marshall Wace LLP raised its stake in Tiptree by 114.0% during the second quarter. Marshall Wace LLP now owns 51,312 shares of the financial services provider’s stock worth $846,000 after acquiring an additional 27,335 shares in the last quarter. Institutional investors and hedge funds own 37.78% of the company’s stock.

Analyst Ratings Changes

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

Tiptree Stock Performance

Shares of NASDAQ:TIPT opened at $22.50 on Friday. Tiptree Inc. has a 52-week low of $14.96 and a 52-week high of $24.09. The company has a market capitalization of $833.85 million, a PE ratio of 23.20 and a beta of 1.30. The company has a fifty day moving average of $20.47 and a 200-day moving average of $18.79.

Tiptree Dividend Announcement

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

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.