StockNews.com Downgrades Tiptree (NASDAQ:TIPT) to Buy

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

Tiptree Price Performance

NASDAQ:TIPT opened at $18.04 on Thursday. The company’s fifty day moving average price is $17.28 and its 200-day moving average price is $17.24. The firm has a market capitalization of $663.51 million, a P/E ratio of 31.65 and a beta of 1.30. Tiptree has a 1-year low of $14.74 and a 1-year high of $20.80.

Tiptree (NASDAQ:TIPT) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.44 EPS for the quarter. Tiptree had a net margin of 1.62% and a return on equity of 11.97%. The business had revenue of $498.22 million for the quarter.

Tiptree Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 19th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Monday, August 19th. Tiptree’s dividend payout ratio (DPR) is presently 42.11%.

Insiders Place Their Bets

In other news, CEO Jonathan Ilany bought 1,550 shares of Tiptree stock in a transaction on Tuesday, May 28th. The stock was acquired at an average price of $17.50 per share, with a total value of $27,125.00. Following the completion of the acquisition, the chief executive officer now directly owns 192,021 shares of the company’s stock, valued at $3,360,367.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 31.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in Tiptree by 272.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 1,555 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tiptree during the second quarter worth about $48,000. BNP Paribas Financial Markets lifted its holdings in Tiptree by 25.6% during the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock worth $219,000 after buying an additional 2,576 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Tiptree by 34.5% in the fourth quarter. SG Americas Securities LLC now owns 11,829 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 3,035 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Tiptree in the 1st quarter valued at about $245,000. 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.