Tiptree (NASDAQ:TIPT) Stock Price Up 4.1% – Still a Buy?

Tiptree Inc. (NASDAQ:TIPT) shares rose 4.1% during mid-day trading on Tuesday . The company traded as high as $23.64 and last traded at $24.19. Approximately 32,786 shares traded hands during trading, a decline of 62% from the average daily volume of 85,363 shares. The stock had previously closed at $23.24.

Tiptree Trading Up 8.6 %

The firm has a market capitalization of $940.04 million, a PE ratio of 26.11 and a beta of 1.31. The firm’s fifty day moving average price is $21.14 and its 200 day moving average price is $20.76.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.67 EPS for the quarter. The company had revenue of $503.60 million for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%.

Tiptree Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.95%. The ex-dividend date was Monday, March 10th. Tiptree’s dividend payout ratio is currently 18.60%.

Institutional Investors Weigh In On Tiptree

Several hedge funds have recently bought and sold shares of TIPT. Group One Trading LLC lifted its stake in shares of Tiptree by 192.8% in the 4th quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 3,856 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Tiptree in the fourth quarter worth about $83,000. Aquatic Capital Management LLC purchased a new stake in shares of Tiptree during the 4th quarter worth about $85,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tiptree during the 3rd quarter valued at about $85,000. Finally, FMR LLC increased its stake in shares of Tiptree by 43.1% in the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,339 shares in the last quarter. Hedge funds and other institutional investors 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.