Tiptree (NASDAQ:TIPT) Upgraded to Strong-Buy by StockNews.com

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

Tiptree Trading Up 1.8 %

Shares of TIPT stock opened at $16.53 on Wednesday. Tiptree has a 12 month low of $12.12 and a 12 month high of $20.80. The company has a market capitalization of $607.66 million, a P/E ratio of 29.00 and a beta of 1.23. The stock has a 50 day moving average of $16.66 and a two-hundred day moving average of $17.58.

Tiptree (NASDAQ:TIPT) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $0.44 EPS for the quarter. Tiptree had a return on equity of 12.49% and a net margin of 1.36%. The business had revenue of $498.22 million during the quarter.

Tiptree Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 20th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, May 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.45%. Tiptree’s dividend payout ratio (DPR) is currently 42.11%.

Insider Activity at Tiptree

In related news, CEO Jonathan Ilany bought 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of $16.95 per share, for a total transaction of $49,155.00. Following the transaction, the chief executive officer now directly owns 190,471 shares of the company’s stock, valued at $3,228,483.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TIPT. Tower Research Capital LLC TRC grew its holdings in shares of Tiptree by 272.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 1,555 shares during the last quarter. SG Americas Securities LLC acquired a new position in Tiptree in the third quarter valued at about $147,000. BNP Paribas Financial Markets grew its stake in Tiptree by 25.6% during the first 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 during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Tiptree by 10.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider’s stock worth $281,000 after buying an additional 1,473 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Tiptree by 9.2% in the third quarter. Hsbc Holdings PLC now owns 18,927 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 1,595 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.