Tiptree (NASDAQ:TIPT) Reaches New 12-Month High – Still a Buy?

Tiptree Inc. (NASDAQ:TIPT) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $25.57 and last traded at $24.84, with a volume of 652759 shares trading hands. The stock had previously closed at $23.24.

Tiptree Trading Down 4.8 %

The firm has a 50 day simple moving average of $21.42 and a 200 day simple moving average of $20.85. The firm has a market capitalization of $886.02 million, a PE ratio of 24.52 and a beta of 1.31.

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

Tiptree Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 1.01%. Tiptree’s dividend payout ratio (DPR) is 18.60%.

Institutional Investors Weigh In On Tiptree

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Tiptree by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 559,905 shares of the financial services provider’s stock valued at $10,959,000 after buying an additional 7,974 shares during the period. Royce & Associates LP lifted its holdings in Tiptree by 15.0% in the fourth quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider’s stock valued at $10,936,000 after acquiring an additional 68,338 shares during the period. State Street Corp boosted its position in Tiptree by 1.9% in the third quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock worth $9,673,000 after purchasing an additional 9,059 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of Tiptree by 55.2% during the 4th quarter. Kennedy Capital Management LLC now owns 273,014 shares of the financial services provider’s stock valued at $5,695,000 after purchasing an additional 97,078 shares during the period. Finally, Invesco Ltd. increased its position in shares of Tiptree by 395.9% during the 4th quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider’s stock valued at $5,456,000 after purchasing an additional 208,814 shares during the last quarter. Institutional investors 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.