Tiptree (NASDAQ:TIPT) Reaches New 12-Month High at $18.38

Tiptree Inc. (NASDAQ:TIPT) reached a new 52-week high on Monday . The company traded as high as $18.38 and last traded at $18.38, with a volume of 96691 shares. The stock had previously closed at $17.62.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TIPT. TheStreet upgraded Tiptree from a “c” rating to a “b-” rating in a report on Wednesday, August 16th. StockNews.com cut Tiptree from a “buy” rating to a “hold” rating in a report on Friday, November 3rd.

Tiptree Stock Performance

The stock has a market cap of $675.83 million, a PE ratio of 92.74 and a beta of 1.10. The stock has a fifty day simple moving average of $16.36 and a two-hundred day simple moving average of $15.32.

Tiptree Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 20th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, November 17th. Tiptree’s dividend payout ratio (DPR) is currently 105.27%.

Hedge Funds Weigh In On Tiptree

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in shares of Tiptree by 183.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,704 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,102 shares during the last quarter. Credit Suisse AG acquired a new stake in shares of Tiptree during the 2nd quarter valued at approximately $32,000. Acadian Asset Management LLC acquired a new stake in shares of Tiptree during the 1st quarter valued at approximately $44,000. Cubist Systematic Strategies LLC raised its position in shares of Tiptree by 252.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,924 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 4,241 shares in the last quarter. Finally, State of Wyoming raised its position in shares of Tiptree by 73.2% during the 4th quarter. State of Wyoming now owns 5,502 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 2,326 shares in the last quarter. 35.90% 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. The company operates in two segments, Insurance and Mortgage. It offers niche; commercial lines insurance products, including professional liability, contractual liability, energy, allied health, general liability, directors' and officers' liability, life sciences, inland marine, contractors' equipment, contractors' liability, student legal liability, hospitality, and business owner insurance products; and personal lines insurance products, such as storage unit contents, manufactured housing, GAP, auto, credit life and disability, and collateral insurance products.