Tiptree (NASDAQ:TIPT) Trading 4.1% Higher – What’s Next?

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

Tiptree Stock Up 0.6 %

The firm has a market cap of $931.10 million, a price-to-earnings ratio of 25.76 and a beta of 1.31. The business’s 50-day simple moving average is $21.35 and its two-hundred day simple moving average is $20.83.

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

Tiptree Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.06 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.96%. Tiptree’s dividend payout ratio is currently 18.60%.

Hedge Funds Weigh In On Tiptree

A number of large investors have recently added to or reduced their stakes in TIPT. Quest Partners LLC acquired a new stake in shares of Tiptree in the third quarter valued at about $149,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Tiptree by 14.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,119 shares of the financial services provider’s stock valued at $707,000 after buying an additional 4,542 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Tiptree by 166.1% in 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 buying an additional 114,568 shares during the last quarter. Algert Global LLC increased its stake in Tiptree by 1.2% during the 3rd quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock worth $932,000 after buying an additional 570 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Tiptree by 43.1% during the third 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. 37.78% of the stock is currently owned by institutional investors and hedge funds.

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.