Tiptree Inc. (NASDAQ:TIPT) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Tiptree Inc. (NASDAQ:TIPT) by 44.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,000 shares of the financial services provider’s stock after buying an additional 15,881 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tiptree were worth $1,085,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Algert Global LLC raised its position in Tiptree by 1.2% during the third quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 570 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in shares of 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 buying an additional 1,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $3,855,000 after buying an additional 1,271 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Tiptree by 8.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 17,185 shares of the financial services provider’s stock valued at $336,000 after buying an additional 1,314 shares during the last quarter. Finally, FMR LLC raised its position in shares of Tiptree by 43.1% in the third 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 last quarter. Institutional investors and hedge funds own 37.78% of the company’s stock.

Tiptree Price Performance

NASDAQ:TIPT opened at $23.51 on Friday. The firm has a 50 day simple moving average of $20.98 and a 200-day simple moving average of $20.69. The firm has a market cap of $875.96 million, a PE ratio of 24.24 and a beta of 1.31. Tiptree Inc. has a 1-year low of $15.52 and a 1-year high of $24.09.

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

Tiptree Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors 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 1.02%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree’s dividend payout ratio (DPR) 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.