LPL Financial LLC Acquires Shares of 135,873 Tiptree Inc (TIPT)

LPL Financial LLC acquired a new stake in Tiptree Inc (NASDAQ:TIPT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 135,873 shares of the financial services provider’s stock, valued at approximately $808,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its stake in shares of Tiptree by 67.6% in the 3rd quarter. Wells Fargo & Company MN now owns 25,044 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 10,100 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Tiptree by 6.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 172,855 shares of the financial services provider’s stock valued at $1,028,000 after purchasing an additional 11,155 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Tiptree by 1.4% in the 4th quarter. BlackRock Inc. now owns 1,203,266 shares of the financial services provider’s stock valued at $7,160,000 after purchasing an additional 16,369 shares during the last quarter. State Street Corp lifted its stake in shares of Tiptree by 5.7% in the 2nd quarter. State Street Corp now owns 397,363 shares of the financial services provider’s stock valued at $2,801,000 after purchasing an additional 21,556 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Tiptree by 28.2% in the 4th quarter. Bank of New York Mellon Corp now owns 117,156 shares of the financial services provider’s stock valued at $697,000 after purchasing an additional 25,787 shares during the last quarter. 47.61% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on TIPT shares. BidaskClub raised shares of Tiptree from a “sell” rating to a “hold” rating in a research note on Monday, March 26th. TheStreet raised shares of Tiptree from a “d+” rating to a “c” rating in a research note on Tuesday.



In other news, CEO Jonathan Ilany bought 4,600 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The shares were purchased at an average price of $6.23 per share, for a total transaction of $28,658.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 35.53% of the company’s stock.

TIPT stock opened at $6.40 on Friday. Tiptree Inc has a 1 year low of $5.35 and a 1 year high of $7.50.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings data on Wednesday, March 14th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter. Tiptree had a net margin of 0.57% and a negative return on equity of 2.92%. The business had revenue of $151.43 million during the quarter.

The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 26th were issued a $0.03 dividend. The ex-dividend date was Friday, March 23rd. This represents a $0.12 annualized dividend and a yield of 1.88%.

Tiptree declared that its Board of Directors has approved a stock repurchase program on Monday, March 19th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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Tiptree Company Profile

Tiptree Inc, formerly Tiptree Financial Inc, is a diversified holding company that acquires and manages controlling interests of operating businesses. The Company conducts its operations through Tiptree Operating Company, LLC (the Operating Company). It operates through four segments: specialty insurance, asset management, senior living and specialty finance.

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Institutional Ownership by Quarter for Tiptree (NASDAQ:TIPT)

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