JPMorgan Chase & Co. Acquires 28,400 Shares of Tiptree Inc. (NASDAQ:TIPT)

JPMorgan Chase & Co. lifted its holdings in Tiptree Inc. (NASDAQ:TIPT) by 55.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 79,202 shares of the financial services provider’s stock after purchasing an additional 28,400 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tiptree were worth $1,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in Tiptree by 74.2% during the 3rd quarter. Barclays PLC now owns 72,745 shares of the financial services provider’s stock worth $1,424,000 after purchasing an additional 30,985 shares during the last quarter. FMR LLC raised its holdings in Tiptree by 43.1% during the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,339 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Tiptree by 166.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock worth $3,592,000 after purchasing an additional 114,568 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Tiptree during the 2nd quarter worth about $671,000. Finally, State Street Corp grew its position in shares of Tiptree by 1.9% during the 3rd quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock worth $9,673,000 after buying an additional 9,059 shares during the period. 37.78% of the stock is owned by institutional investors.

Tiptree Price Performance

Shares of TIPT stock opened at $19.97 on Friday. The stock has a market cap of $740.09 million, a PE ratio of 20.59 and a beta of 1.32. The stock has a 50-day moving average of $21.02 and a 200-day moving average of $19.90. Tiptree Inc. has a one year low of $14.96 and a one year high of $24.09.

Tiptree (NASDAQ:TIPT) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.58 EPS for the quarter. The company had revenue of $494.36 million during the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%.

Tiptree Announces Dividend

The business also recently declared a special dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 11th were paid a $0.25 dividend. The ex-dividend date was Wednesday, December 11th. Tiptree’s dividend payout ratio (DPR) is presently 24.74%.

Wall Street Analyst Weigh In

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

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.