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

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

Tiptree Trading Down 2.7 %

Shares of TIPT stock opened at $19.56 on Tuesday. The business’s 50-day moving average price is $18.86 and its 200-day moving average price is $17.49. Tiptree has a 12 month low of $14.74 and a 12 month high of $20.80. The firm has a market capitalization of $719.51 million, a price-to-earnings ratio of 34.32 and a beta of 1.31.

Tiptree (NASDAQ:TIPT) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 EPS for the quarter. Tiptree had a return on equity of 11.97% and a net margin of 1.62%. The firm had revenue of $546.67 million for the quarter.

Tiptree Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. Tiptree’s payout ratio is currently 42.11%.

Institutional Investors Weigh In On Tiptree

Hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in shares of Tiptree during the second quarter valued at approximately $320,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Tiptree during the 2nd quarter valued at $231,000. Algert Global LLC increased its stake in Tiptree by 7.7% in the 2nd quarter. Algert Global LLC now owns 47,059 shares of the financial services provider’s stock worth $776,000 after acquiring an additional 3,379 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Tiptree in the 2nd quarter worth about $176,000. Finally, Millennium Management LLC increased its stake 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 acquiring an additional 75,943 shares during the last quarter. 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.