Wells Fargo & Company MN Purchases 2,175 Shares of Tiptree Inc (NASDAQ:TIPT)

Wells Fargo & Company MN boosted its position in shares of Tiptree Inc (NASDAQ:TIPT) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,677 shares of the financial services provider’s stock after purchasing an additional 2,175 shares during the period. Wells Fargo & Company MN owned about 0.13% of Tiptree worth $275,000 at the end of the most recent reporting period.

Separately, BNP Paribas Arbitrage SA increased its holdings in Tiptree by 418.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,623 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 4,539 shares in the last quarter. 34.14% of the stock is owned by institutional investors.

A number of equities analysts have issued reports on TIPT shares. BidaskClub upgraded Tiptree from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 19th. ValuEngine cut Tiptree from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th.

TIPT stock opened at $7.38 on Thursday. The stock has a 50-day moving average price of $7.10 and a two-hundred day moving average price of $6.48. The stock has a market cap of $248.77 million, a PE ratio of 45.00 and a beta of 0.02. Tiptree Inc has a 1 year low of $5.01 and a 1 year high of $7.80.

Tiptree (NASDAQ:TIPT) last released its earnings results on Monday, August 5th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. The firm had revenue of $191.07 million during the quarter. Tiptree had a return on equity of 1.49% and a net margin of 2.17%.

In other news, Chairman Michael Gene Barnes bought 4,798 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $6.87 per share, for a total transaction of $32,962.26. Following the acquisition, the chairman now owns 8,061,188 shares in the company, valued at $55,380,361.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 94,171 shares of company stock valued at $629,548. Corporate insiders own 25.56% of the company’s stock.

Tiptree Profile

Tiptree Inc, through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The company provides credit protection insurance, warranty and service contract products, and niche commercial and consumer insurance programs, as well as offers value-add services, including premium finance and business processing services.

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Institutional Ownership by Quarter for Tiptree (NASDAQ:TIPT)

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