Connor Clark & Lunn Investment Management Ltd. Purchases 16,827 Shares of Tiptree Financial Inc. (NASDAQ:TIPT)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Tiptree Financial Inc. (NASDAQ:TIPT) by 32.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,827 shares of the financial services provider’s stock after purchasing an additional 16,827 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tiptree Financial were worth $1,658,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Tiptree Financial by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 1,291,675 shares of the financial services provider’s stock worth $31,116,000 after purchasing an additional 28,373 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Tiptree Financial during the 1st quarter worth approximately $287,000. Tectonic Advisors LLC raised its holdings in Tiptree Financial by 8.2% during the 1st quarter. Tectonic Advisors LLC now owns 31,545 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 2,387 shares during the last quarter. CWM LLC raised its holdings in Tiptree Financial by 86.7% during the 1st quarter. CWM LLC now owns 1,535 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 713 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in Tiptree Financial by 3.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 16,777 shares of the financial services provider’s stock worth $404,000 after purchasing an additional 543 shares during the last quarter. Institutional investors own 37.78% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Tiptree Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd.

Tiptree Financial Stock Down 2.6%

NASDAQ:TIPT opened at $21.78 on Friday. The company has a fifty day moving average of $22.19 and a 200-day moving average of $22.00. The firm has a market capitalization of $816.75 million, a P/E ratio of 17.29 and a beta of 1.23. Tiptree Financial Inc. has a twelve month low of $17.07 and a twelve month high of $26.90.

Tiptree Financial (NASDAQ:TIPT) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.52 earnings per share for the quarter. The company had revenue of $528.75 million during the quarter. Tiptree Financial had a net margin of 2.77% and a return on equity of 13.90%.

Tiptree Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 18th will be paid a $0.06 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.1%. Tiptree Financial’s payout ratio is currently 19.05%.

About Tiptree Financial

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.