Geode Capital Management LLC Sells 4,072 Shares of Tiptree Inc. (NASDAQ:TIPT)

Geode Capital Management LLC reduced its holdings in shares of Tiptree Inc. (NASDAQ:TIPT) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 555,833 shares of the financial services provider’s stock after selling 4,072 shares during the period. Geode Capital Management LLC’s holdings in Tiptree were worth $11,597,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TIPT. Alliancebernstein L.P. boosted its stake in shares of Tiptree by 25.0% in the 4th quarter. Alliancebernstein L.P. now owns 23,560 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 4,710 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Tiptree by 76.5% during the fourth quarter. JPMorgan Chase & Co. now owns 139,797 shares of the financial services provider’s stock valued at $2,916,000 after buying an additional 60,595 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Tiptree during the fourth quarter valued at about $83,000. Hillsdale Investment Management Inc. grew its stake 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 buying an additional 1,200 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Tiptree by 4.3% in the fourth quarter. Teacher Retirement System of Texas now owns 41,444 shares of the financial services provider’s stock worth $865,000 after buying an additional 1,719 shares during the period. 37.78% of the stock is owned by hedge funds and other institutional investors.

Tiptree Price Performance

Shares of TIPT stock opened at $21.57 on Tuesday. The business has a 50-day moving average of $22.24 and a 200 day moving average of $21.25. Tiptree Inc. has a 1-year low of $15.60 and a 1-year high of $26.90. The stock has a market capitalization of $803.68 million, a PE ratio of 22.24 and a beta of 1.19.

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

Tiptree Dividend Announcement

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 $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.11%. 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.