Goldman Sachs Group Inc. Has $989,000 Position in Tiptree Financial Inc. (TIPT)
Goldman Sachs Group Inc. reduced its position in shares of Tiptree Financial Inc. (NASDAQ:TIPT) by 27.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,291 shares of the financial services provider’s stock after selling 52,666 shares during the period. Goldman Sachs Group Inc. owned about 0.48% of Tiptree Financial worth $989,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Tiptree Financial by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 972,899 shares of the financial services provider’s stock valued at $6,859,000 after purchasing an additional 11,059 shares during the last quarter. Northern Trust Corp lifted its holdings in Tiptree Financial by 2.2% during the 2nd quarter. Northern Trust Corp now owns 253,438 shares of the financial services provider’s stock valued at $1,787,000 after purchasing an additional 5,503 shares during the last quarter. Tricadia Capital Management LLC increased its position in Tiptree Financial by 32.5% in the 2nd quarter. Tricadia Capital Management LLC now owns 6,004,948 shares of the financial services provider’s stock valued at $42,335,000 after acquiring an additional 1,472,400 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Tiptree Financial in the 2nd quarter valued at about $466,000. Finally, LSV Asset Management acquired a new stake in Tiptree Financial in the 2nd quarter valued at about $322,000. 45.08% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the stock. BidaskClub cut shares of Tiptree Financial from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. TheStreet cut shares of Tiptree Financial from a “c” rating to a “d+” rating in a research report on Friday, August 18th.
Shares of Tiptree Financial Inc. (TIPT) opened at $6.55 on Tuesday. The firm has a market cap of $288.45, a PE ratio of 20.94 and a beta of -0.42. Tiptree Financial Inc. has a 1 year low of $5.60 and a 1 year high of $7.60.
Tiptree Financial Profile
Tiptree Inc, formerly Tiptree Financial Inc, is a diversified holding company that acquires and manages controlling interests of operating businesses. The Company conducts its operations through Tiptree Operating Company, LLC (the Operating Company). It operates through four segments: specialty insurance, asset management, senior living and specialty finance.
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