Tiptree (NASDAQ:TIPT) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Tiptree (NASDAQ:TIPT) from a buy rating to a strong-buy rating in a research report released on Wednesday.

Tiptree Stock Up 1.1 %

Shares of TIPT opened at $16.27 on Wednesday. Tiptree has a 12-month low of $13.75 and a 12-month high of $20.80. The business has a 50-day simple moving average of $16.78 and a two-hundred day simple moving average of $17.55. The stock has a market cap of $598.41 million, a PE ratio of 28.54 and a beta of 1.30.

Tiptree (NASDAQ:TIPT) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. Tiptree had a return on equity of 12.49% and a net margin of 1.36%. The business had revenue of $498.22 million during the quarter.

Tiptree Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 20th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.24 dividend on an annualized basis and a yield of 1.48%. Tiptree’s payout ratio is presently 42.11%.

Insider Activity

In related news, CEO Jonathan Ilany purchased 1,550 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $17.50 per share, with a total value of $27,125.00. Following the completion of the purchase, the chief executive officer now owns 192,021 shares in the company, valued at approximately $3,360,367.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 31.78% of the company’s stock.

Institutional Investors Weigh In On Tiptree

Institutional investors and hedge funds have recently made changes to their positions in the stock. Breach Inlet Capital Management LLC bought a new stake in shares of Tiptree during the 4th quarter valued at about $14,894,000. Steamboat Capital Partners LLC bought a new stake in shares of Tiptree during the 1st quarter valued at about $3,427,000. Kennedy Capital Management LLC boosted its position in shares of Tiptree by 538.6% during the 1st quarter. Kennedy Capital Management LLC now owns 156,356 shares of the financial services provider’s stock valued at $2,702,000 after purchasing an additional 131,871 shares in the last quarter. Cannell Capital LLC boosted its position in shares of Tiptree by 17.2% during the 3rd quarter. Cannell Capital LLC now owns 884,084 shares of the financial services provider’s stock valued at $14,817,000 after purchasing an additional 129,529 shares in the last quarter. Finally, EAM Investors LLC bought a new position in Tiptree in the third quarter worth approximately $815,000. Institutional investors and hedge funds own 37.78% of the company’s stock.

Tiptree Company Profile

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.