40,703 Shares in Tiptree Inc. (NASDAQ:TIPT) Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV bought a new stake in Tiptree Inc. (NASDAQ:TIPT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 40,703 shares of the financial services provider’s stock, valued at approximately $671,000. Mercer Global Advisors Inc. ADV owned approximately 0.11% of Tiptree as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Breach Inlet Capital Management LLC acquired a new stake in shares of Tiptree in the 4th quarter valued at $14,894,000. Steamboat Capital Partners LLC purchased a new position in Tiptree in the first quarter valued at $3,427,000. Kennedy Capital Management LLC raised its stake in Tiptree by 538.6% in the first quarter. Kennedy Capital Management LLC now owns 156,356 shares of the financial services provider’s stock valued at $2,702,000 after buying an additional 131,871 shares in the last quarter. Cove Street Capital LLC lifted its holdings in Tiptree by 11.6% during the 4th quarter. Cove Street Capital LLC now owns 395,635 shares of the financial services provider’s stock worth $7,501,000 after buying an additional 41,277 shares during the last quarter. Finally, Sanders Morris Harris LLC acquired a new position in shares of Tiptree during the 2nd quarter worth about $495,000. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Tiptree from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

Tiptree Trading Up 1.2 %

TIPT stock opened at $19.41 on Friday. The stock has a market cap of $714.00 million, a P/E ratio of 34.05 and a beta of 1.31. Tiptree Inc. has a twelve month low of $14.74 and a twelve month high of $20.80. The company’s 50 day moving average is $18.97 and its two-hundred day moving average is $17.55.

Tiptree (NASDAQ:TIPT) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 EPS for the quarter. Tiptree had a net margin of 1.62% and a return on equity of 11.97%. The firm had revenue of $546.67 million for the quarter.

Tiptree Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Monday, August 19th. Tiptree’s payout ratio is currently 42.11%.

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.