Tiptree (NASDAQ:TIPT) Upgraded at 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 morning.

Tiptree Stock Performance

Shares of TIPT opened at $19.47 on Wednesday. The stock has a 50 day moving average price of $19.00 and a 200 day moving average price of $17.57. The stock has a market capitalization of $716.20 million, a price-to-earnings ratio of 34.16 and a beta of 1.31. Tiptree has a one year low of $14.74 and a one year high of $20.80.

Tiptree (NASDAQ:TIPT) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share for the quarter. Tiptree had a return on equity of 11.97% and a net margin of 1.62%. The business had revenue of $546.67 million for the quarter.

Tiptree Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. Tiptree’s dividend payout ratio is presently 42.11%.

Institutional Trading of Tiptree

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Tiptree in the second quarter valued at about $48,000. The Manufacturers Life Insurance Company acquired a new stake in Tiptree in the 2nd quarter valued at approximately $176,000. BNP Paribas Financial Markets raised its position in Tiptree by 25.6% in the first quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 2,576 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Tiptree during the second quarter worth $231,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Tiptree during the first quarter worth $245,000. 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.