Breach Inlet Capital Management LLC Trims Position in Tiptree Inc. (NASDAQ:TIPT)

Breach Inlet Capital Management LLC lowered its stake in Tiptree Inc. (NASDAQ:TIPT) by 10.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 711,536 shares of the financial services provider’s stock after selling 85,635 shares during the quarter. Tiptree accounts for 10.5% of Breach Inlet Capital Management LLC’s portfolio, making the stock its 4th biggest position. Breach Inlet Capital Management LLC owned 1.92% of Tiptree worth $14,843,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Tiptree by 1.4% in the third quarter. Geode Capital Management LLC now owns 559,905 shares of the financial services provider’s stock worth $10,959,000 after purchasing an additional 7,974 shares during the last quarter. Royce & Associates LP grew its position in shares of Tiptree by 15.0% in the 4th quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider’s stock worth $10,936,000 after buying an additional 68,338 shares during the last quarter. State Street Corp increased its stake in shares of Tiptree by 1.9% during the third quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock valued at $9,673,000 after buying an additional 9,059 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Tiptree by 0.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 221,977 shares of the financial services provider’s stock valued at $4,630,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Tiptree by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 184,823 shares of the financial services provider’s stock worth $3,855,000 after acquiring an additional 1,271 shares during the period. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Tiptree Trading Down 9.5 %

Shares of Tiptree stock opened at $21.79 on Friday. Tiptree Inc. has a 12-month low of $15.52 and a 12-month high of $26.90. The company has a market cap of $811.87 million, a P/E ratio of 22.46 and a beta of 1.31. The company’s fifty day simple moving average is $21.83 and its two-hundred day simple moving average is $21.04.

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

Tiptree Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree’s dividend payout ratio is currently 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.