Point72 Asia Singapore Pte. Ltd. Makes New Investment in Tiptree Inc. (NASDAQ:TIPT)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tiptree Inc. (NASDAQ:TIPT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,337 shares of the financial services provider’s stock, valued at approximately $85,000.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Tiptree by 166.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock worth $3,592,000 after acquiring an additional 114,568 shares during the last quarter. Millennium Management LLC increased its position in shares of Tiptree by 58.7% during the 2nd quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock valued at $3,387,000 after purchasing an additional 75,943 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Tiptree during the 2nd quarter valued at $859,000. Mercer Global Advisors Inc. ADV bought a new stake in Tiptree in the second quarter worth $671,000. Finally, Marshall Wace LLP boosted its stake in Tiptree by 114.0% during the second quarter. Marshall Wace LLP now owns 51,312 shares of the financial services provider’s stock worth $846,000 after buying an additional 27,335 shares during the period. Institutional investors own 37.78% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Tiptree from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Tiptree Price Performance

Shares of NASDAQ TIPT opened at $21.96 on Friday. Tiptree Inc. has a 1 year low of $14.96 and a 1 year high of $24.09. The firm has a 50-day simple moving average of $20.90 and a two-hundred day simple moving average of $19.04. The company has a market cap of $813.75 million, a P/E ratio of 22.64 and a beta of 1.31.

Tiptree Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 11th. Tiptree’s dividend payout ratio is currently 24.74%.

Tiptree Company Profile

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.