Vanguard Group Inc. Has $8.12 Million Stake in Tiptree Inc (NASDAQ:TIPT)

Vanguard Group Inc. raised its holdings in Tiptree Inc (NASDAQ:TIPT) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,288,789 shares of the financial services provider’s stock after buying an additional 16,740 shares during the quarter. Vanguard Group Inc. owned approximately 3.73% of Tiptree worth $8,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TIPT. Wells Fargo & Company MN grew its holdings in Tiptree by 5.2% in the 2nd quarter. Wells Fargo & Company MN now owns 43,677 shares of the financial services provider’s stock valued at $275,000 after buying an additional 2,175 shares during the period. Panagora Asset Management Inc. grew its holdings in Tiptree by 50.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 30,229 shares of the financial services provider’s stock valued at $190,000 after buying an additional 10,133 shares during the period. Northern Trust Corp grew its holdings in Tiptree by 2.9% in the 2nd quarter. Northern Trust Corp now owns 279,563 shares of the financial services provider’s stock valued at $1,761,000 after buying an additional 7,887 shares during the period. BlackRock Inc. grew its holdings in Tiptree by 0.4% in the 2nd quarter. BlackRock Inc. now owns 1,455,498 shares of the financial services provider’s stock valued at $9,169,000 after buying an additional 6,289 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in Tiptree in the 2nd quarter valued at about $212,000. Institutional investors own 34.18% of the company’s stock.

In related news, Chairman Michael Gene Barnes purchased 4,798 shares of Tiptree stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $6.87 per share, with a total value of $32,962.26. Following the transaction, the chairman now owns 8,061,188 shares of the company’s stock, valued at approximately $55,380,361.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 90,523 shares of company stock worth $605,726 over the last three months. 25.56% of the stock is currently owned by corporate insiders.

Several research firms have commented on TIPT. BidaskClub upgraded Tiptree from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 19th. ValuEngine cut Tiptree from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th.

Shares of NASDAQ:TIPT opened at $7.68 on Friday. The stock has a 50-day simple moving average of $7.29 and a 200-day simple moving average of $6.63. The stock has a market capitalization of $252.92 million, a P/E ratio of 45.75 and a beta of 0.02. Tiptree Inc has a 1 year low of $5.01 and a 1 year high of $7.80.

The business also recently declared a dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Tiptree’s previous dividend of $0.03.

About Tiptree

Tiptree Inc, through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The company provides credit protection insurance, warranty and service contract products, and niche commercial and consumer insurance programs, as well as offers value-add services, including premium finance and business processing services.

Further Reading: Capital Gains Distribution

Institutional Ownership by Quarter for Tiptree (NASDAQ:TIPT)

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