Tiptree (NASDAQ:TIPT) Stock Rating Upgraded by StockNews.com

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

Tiptree Stock Performance

Shares of NASDAQ TIPT opened at $16.53 on Wednesday. The company has a 50 day simple moving average of $16.66 and a two-hundred day simple moving average of $17.58. Tiptree has a fifty-two week low of $12.12 and a fifty-two week high of $20.80. The company has a market capitalization of $607.66 million, a price-to-earnings ratio of 29.00 and a beta of 1.23.

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

Tiptree Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 20th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, May 17th. Tiptree’s dividend payout ratio (DPR) is 42.11%.

Insider Buying and Selling at Tiptree

In other Tiptree news, CEO Jonathan Ilany bought 2,900 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average price of $16.95 per share, with a total value of $49,155.00. Following the transaction, the chief executive officer now owns 190,471 shares in the company, valued at $3,228,483.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 31.78% of the stock is owned by company insiders.

Institutional Trading of Tiptree

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Tiptree during the third quarter valued at $147,000. Raymond James & Associates raised its position in Tiptree by 25.3% in the third quarter. Raymond James & Associates now owns 75,100 shares of the financial services provider’s stock worth $1,259,000 after acquiring an additional 15,142 shares during the period. Swiss National Bank raised its position in Tiptree by 3.2% in the third quarter. Swiss National Bank now owns 48,523 shares of the financial services provider’s stock worth $813,000 after acquiring an additional 1,500 shares during the period. Cove Street Capital LLC boosted its stake in shares of Tiptree by 8.2% during the 3rd quarter. Cove Street Capital LLC now owns 354,358 shares of the financial services provider’s stock worth $5,776,000 after acquiring an additional 26,719 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Tiptree by 9.2% during the 3rd quarter. Hsbc Holdings PLC now owns 18,927 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 1,595 shares during the period. 37.78% of the stock is currently owned by institutional investors.

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.