Tiptree Inc. (NASDAQ:TIPT) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in Tiptree Inc. (NASDAQ:TIPT) by 166.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,552 shares of the financial services provider’s stock after buying an additional 114,568 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Tiptree were worth $3,592,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Millennium Management LLC lifted its position in Tiptree by 58.7% in the second quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock valued at $3,387,000 after acquiring an additional 75,943 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Tiptree by 11.6% during the second quarter. Bank of New York Mellon Corp now owns 114,595 shares of the financial services provider’s stock worth $1,890,000 after purchasing an additional 11,901 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Tiptree by 4.2% in the 3rd quarter. GSA Capital Partners LLP now owns 84,854 shares of the financial services provider’s stock valued at $1,661,000 after purchasing an additional 3,383 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Tiptree in the 2nd quarter valued at about $859,000. Finally, Marshall Wace LLP boosted its position in shares of Tiptree by 114.0% in the 2nd quarter. Marshall Wace LLP now owns 51,312 shares of the financial services provider’s stock valued at $846,000 after purchasing an additional 27,335 shares during the period. Institutional investors and hedge funds own 37.78% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Tiptree from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

Tiptree Price Performance

Shares of Tiptree stock opened at $21.42 on Friday. The firm’s fifty day simple moving average is $21.10 and its 200-day simple moving average is $19.19. Tiptree Inc. has a 12 month low of $14.96 and a 12 month high of $24.09. The stock has a market capitalization of $793.74 million, a price-to-earnings ratio of 22.08 and a beta of 1.31.

Tiptree Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. Tiptree’s dividend payout ratio is presently 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.