Tiptree (NASDAQ:TIPT) Trading 4.1% Higher – Still a Buy?

Tiptree Inc. (NASDAQ:TIPT)’s stock price shot up 4.1% on Tuesday . The stock traded as high as $23.64 and last traded at $24.19. 32,786 shares changed 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 Performance

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

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

Tiptree Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Algert Global LLC raised its stake in shares of Tiptree by 1.2% in the 3rd quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock valued at $932,000 after acquiring an additional 570 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Tiptree by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,431 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 608 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in Tiptree by 5.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 18,680 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 1,000 shares during the period. Hillsdale Investment Management Inc. lifted its stake in Tiptree by 0.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 221,977 shares of the financial services provider’s stock worth $4,630,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Tiptree by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 184,823 shares of the financial services provider’s stock worth $3,855,000 after buying an additional 1,271 shares during the period. 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.