Steamboat Capital Partners LLC Has $2 Million Stock Holdings in Tiptree Inc. (NASDAQ:TIPT)

Steamboat Capital Partners LLC lessened its stake in shares of Tiptree Inc. (NASDAQ:TIPT) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,033 shares of the financial services provider’s stock after selling 1,943 shares during the period. Steamboat Capital Partners LLC owned 0.26% of Tiptree worth $2,003,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royce & Associates LP grew its holdings in Tiptree by 15.0% during the fourth quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider’s stock valued at $10,936,000 after purchasing an additional 68,338 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in Tiptree by 55.2% during the fourth quarter. Kennedy Capital Management LLC now owns 273,014 shares of the financial services provider’s stock valued at $5,695,000 after purchasing an additional 97,078 shares during the last quarter. Invesco Ltd. grew its holdings in Tiptree by 395.9% during the fourth quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider’s stock valued at $5,456,000 after purchasing an additional 208,814 shares during the last quarter. Northern Trust Corp grew its holdings in Tiptree by 9.6% during the fourth quarter. Northern Trust Corp now owns 226,469 shares of the financial services provider’s stock valued at $4,724,000 after purchasing an additional 19,773 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in 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 purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 37.78% of the company’s stock.

Tiptree Trading Up 1.2%

TIPT opened at $22.05 on Friday. 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 $826.81 million, a price-to-earnings ratio of 22.73 and a beta of 1.16. The business has a 50 day moving average of $22.36 and a 200-day moving average of $21.49.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.49 earnings per share for the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%. The company had revenue of $497.43 million during the quarter.

Tiptree Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 12th will be given a $0.06 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.24 annualized dividend and a dividend yield of 1.09%. Tiptree’s dividend payout ratio is 20.00%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Tiptree from a “buy” rating to a “hold” rating in a report on Monday, May 5th.

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.