Tiptree (NASDAQ:TIPT) Sets New 1-Year High – Should You Buy?

Tiptree Inc. (NASDAQ:TIPT) reached a new 52-week high during trading on Wednesday . The company traded as high as $25.57 and last traded at $24.84, with a volume of 652759 shares traded. The stock had previously closed at $23.24.

Tiptree Stock Up 6.9 %

The firm has a market capitalization of $925.51 million, a PE ratio of 25.61 and a beta of 1.31. The firm’s 50 day moving average price is $21.25 and its two-hundred day moving average price is $20.80.

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

Tiptree Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.97%. Tiptree’s dividend payout ratio (DPR) is presently 18.60%.

Institutional Investors Weigh In On Tiptree

Several hedge funds and other institutional investors have recently bought and sold shares of TIPT. Barclays PLC grew its position in shares of Tiptree by 74.2% during the third quarter. Barclays PLC now owns 72,745 shares of the financial services provider’s stock worth $1,424,000 after buying an additional 30,985 shares in the last quarter. FMR LLC boosted its stake in Tiptree by 43.1% during the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,339 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tiptree by 166.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock worth $3,592,000 after acquiring an additional 114,568 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Tiptree by 55.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 79,202 shares of the financial services provider’s stock worth $1,550,000 after acquiring an additional 28,400 shares in the last quarter. Finally, State Street Corp increased its position in shares of Tiptree by 1.9% in the 3rd quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock worth $9,673,000 after purchasing an additional 9,059 shares during the last quarter. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

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.