Cove Street Capital LLC Lowers Holdings in Tiptree Inc. (NASDAQ:TIPT)

Cove Street Capital LLC lowered its position in shares of Tiptree Inc. (NASDAQ:TIPT) by 52.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,760 shares of the financial services provider’s stock after selling 94,241 shares during the period. Tiptree comprises approximately 2.0% of Cove Street Capital LLC’s holdings, making the stock its 21st largest holding. Cove Street Capital LLC owned about 0.23% of Tiptree worth $1,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TIPT. Charles Schwab Investment Management Inc. raised its holdings in shares of Tiptree by 166.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock valued at $3,592,000 after purchasing an additional 114,568 shares in the last quarter. Algert Global LLC raised its stake in Tiptree by 1.2% in the third quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock worth $932,000 after buying an additional 570 shares in the last quarter. FMR LLC raised its stake in Tiptree by 43.1% in the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,339 shares in the last quarter. PDT Partners LLC boosted its position in Tiptree by 38.6% during the 3rd quarter. PDT Partners LLC now owns 19,431 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 5,413 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tiptree in the 3rd quarter valued at $85,000. 37.78% of the stock is currently owned by institutional investors.

Tiptree Price Performance

Shares of NASDAQ TIPT opened at $23.27 on Friday. Tiptree Inc. has a 1-year low of $15.52 and a 1-year high of $26.90. The business has a fifty day moving average price of $21.48 and a 200 day moving average price of $20.90. The stock has a market capitalization of $867.02 million, a P/E ratio of 23.99 and a beta of 1.31.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings results 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 for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%.

Tiptree Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 1.03%. Tiptree’s dividend payout ratio is presently 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.