Sanders Morris Harris LLC Acquires 10,000 Shares of Tiptree Inc. (NASDAQ:TIPT)

Sanders Morris Harris LLC grew its holdings in shares of Tiptree Inc. (NASDAQ:TIPT) by 66.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,000 shares of the financial services provider’s stock after purchasing an additional 10,000 shares during the period. Sanders Morris Harris LLC’s holdings in Tiptree were worth $518,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Barclays PLC raised its holdings in Tiptree by 74.2% during the third quarter. Barclays PLC now owns 72,745 shares of the financial services provider’s stock worth $1,424,000 after acquiring an additional 30,985 shares in the last quarter. FMR LLC boosted its holdings in shares of Tiptree by 43.1% in the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,339 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Tiptree by 166.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock valued at $3,592,000 after buying an additional 114,568 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Tiptree in the second quarter valued at $671,000. Finally, State Street Corp raised its position in Tiptree by 1.9% during the third quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock worth $9,673,000 after acquiring an additional 9,059 shares in the last quarter. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tiptree Stock Performance

Tiptree stock opened at $20.13 on Thursday. The stock has a 50-day simple moving average of $21.23 and a 200 day simple moving average of $19.76. The stock has a market capitalization of $746.02 million, a P/E ratio of 20.75 and a beta of 1.32. Tiptree Inc. has a 52 week low of $14.96 and a 52 week high of $24.09.

Tiptree Announces Dividend

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

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.