Tiptree (NASDAQ:TIPT) Cut to “Buy” at StockNews.com

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

Tiptree Stock Up 2.5 %

Shares of Tiptree stock opened at $19.19 on Wednesday. The company has a market cap of $705.81 million, a P/E ratio of 33.67 and a beta of 1.30. The firm’s 50 day moving average price is $17.10 and its 200-day moving average price is $17.29. Tiptree has a 52-week low of $14.30 and a 52-week high of $20.80.

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

Tiptree Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 20th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, May 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.25%. Tiptree’s payout ratio is 42.11%.

Insider Activity at Tiptree

In related news, CEO Jonathan Ilany acquired 1,550 shares of the stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average cost of $17.50 per share, for a total transaction of $27,125.00. Following the completion of the purchase, the chief executive officer now owns 192,021 shares of the company’s stock, valued at approximately $3,360,367.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. 31.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TIPT. Tower Research Capital LLC TRC boosted its position in Tiptree by 272.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider’s stock valued at $40,000 after buying an additional 1,555 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Tiptree during the 2nd quarter valued at approximately $48,000. BNP Paribas Financial Markets boosted its holdings in shares of Tiptree by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 2,576 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Tiptree by 34.5% in the fourth quarter. SG Americas Securities LLC now owns 11,829 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 3,035 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Tiptree during the first quarter worth $245,000. 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.