Tiptree Inc. (NASDAQ:TIPT) Short Interest Update

Tiptree Inc. (NASDAQ:TIPT) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 193,700 shares, a decrease of 28.8% from the October 15th total of 272,100 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 66,900 shares, the short-interest ratio is presently 2.9 days.

Tiptree Trading Up 2.9 %

Shares of TIPT stock traded up $0.62 during trading hours on Friday, hitting $22.25. The company’s stock had a trading volume of 148,900 shares, compared to its average volume of 91,268. Tiptree has a twelve month low of $14.96 and a twelve month high of $22.94. The stock has a market cap of $824.59 million, a price-to-earnings ratio of 22.94 and a beta of 1.30. The business has a fifty day moving average of $20.07 and a 200-day moving average of $18.48.

Tiptree Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, November 18th. Tiptree’s payout ratio is 24.74%.

Institutional Trading of Tiptree

A number of large investors have recently made changes to their positions in TIPT. Copeland Capital Management LLC purchased a new position in Tiptree in the 3rd quarter valued at about $56,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Tiptree during the second quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tiptree during the third quarter worth approximately $85,000. FMR LLC boosted its position in Tiptree by 43.1% during the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,339 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Tiptree in the 3rd quarter worth approximately $149,000. Institutional investors and hedge funds own 37.78% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Tiptree from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

Tiptree Company Profile

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.