Tiptree (NASDAQ:TIPT) Reaches New 12-Month High – What’s Next?

Tiptree Inc. (NASDAQ:TIPT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.09 and last traded at $22.31, with a volume of 5684 shares traded. The stock had previously closed at $22.25.

Analyst Upgrades and Downgrades

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 Price Performance

The company’s 50-day simple moving average is $20.18 and its 200-day simple moving average is $18.58. The stock has a market capitalization of $801.61 million, a P/E ratio of 22.30 and a beta of 1.30.

Tiptree Announces Dividend

The company 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 1.11%. The ex-dividend date of this dividend is Monday, November 18th. Tiptree’s dividend payout ratio (DPR) is currently 24.74%.

Hedge Funds Weigh In On Tiptree

Several large investors have recently modified their holdings of TIPT. BNP Paribas Financial Markets raised its position in shares of 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. Vanguard Group Inc. raised its position in shares of Tiptree by 1.6% in the first quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider’s stock valued at $19,958,000 after purchasing an additional 17,660 shares during the period. Kennedy Capital Management LLC raised its position in shares of Tiptree by 538.6% in the first quarter. Kennedy Capital Management LLC now owns 156,356 shares of the financial services provider’s stock valued at $2,702,000 after purchasing an additional 131,871 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Tiptree in the first quarter valued at about $245,000. Finally, Ancora Advisors LLC raised its position in shares of Tiptree by 16.7% in the first quarter. Ancora Advisors LLC now owns 62,765 shares of the financial services provider’s stock valued at $1,085,000 after purchasing an additional 8,969 shares during the period. 37.78% of the stock is 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.