Tiptree (NASDAQ:TIPT) Rating Lowered to Buy at StockNews.com

StockNews.com cut shares of Tiptree (NASDAQ:TIPT) from a strong-buy rating to a buy rating in a report published on Friday.

Tiptree Price Performance

NASDAQ:TIPT traded down $0.22 during midday trading on Friday, hitting $20.19. The company’s stock had a trading volume of 98,896 shares, compared to its average volume of 90,594. Tiptree has a fifty-two week low of $14.96 and a fifty-two week high of $21.50. The firm’s 50 day moving average is $19.62 and its 200-day moving average is $18.09. The firm has a market cap of $742.79 million, a P/E ratio of 20.81 and a beta of 1.30.

Tiptree (NASDAQ:TIPT) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.78%. The company had revenue of $546.67 million for the quarter.

Tiptree Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.24 annualized dividend and a yield of 1.19%. Tiptree’s dividend payout ratio (DPR) is presently 24.74%.

Hedge Funds Weigh In On Tiptree

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Tiptree by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider’s stock worth $19,958,000 after purchasing an additional 17,660 shares in the last quarter. Cove Street Capital LLC boosted its position in Tiptree by 7.1% in the 1st quarter. Cove Street Capital LLC now owns 423,767 shares of the financial services provider’s stock worth $7,323,000 after purchasing an additional 28,132 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in Tiptree by 8.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 226,577 shares of the financial services provider’s stock worth $3,915,000 after purchasing an additional 17,700 shares in the last quarter. Millennium Management LLC boosted its position in Tiptree by 58.7% in the 2nd quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock worth $3,387,000 after purchasing an additional 75,943 shares in the last quarter. Finally, Steamboat Capital Partners LLC purchased a new stake in Tiptree in the 1st quarter worth approximately $3,427,000. Institutional investors and hedge funds own 37.78% of the company’s stock.

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.