Tiptree (NASDAQ:TIPT) Sees Large Volume Increase Following Dividend Announcement

Shares of Tiptree Inc. (NASDAQ:TIPT) saw strong trading volume on Thursday following a dividend announcement from the company. 207,752 shares were traded during trading, an increase of 135% from the previous session’s volume of 88,323 shares.The stock last traded at $23.02 and had previously closed at $21.90.

The newly announced dividend which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, March 10th. Tiptree’s payout ratio is currently 24.74%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Tiptree from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Tiptree Trading Down 4.0 %

The company has a market capitalization of $817.57 million, a price-to-earnings ratio of 22.41 and a beta of 1.30. The firm has a 50-day moving average price of $20.25 and a 200-day moving average price of $20.29.

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

Hedge Funds Weigh In On Tiptree

Several hedge funds have recently modified their holdings of the company. Algert Global LLC increased its position in shares of Tiptree by 1.2% during the 3rd quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock valued at $932,000 after purchasing an additional 570 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tiptree by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,431 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 608 shares during the period. Atria Wealth Solutions Inc. grew its holdings in shares of Tiptree by 5.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 18,680 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 1,000 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Tiptree by 0.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 221,977 shares of the financial services provider’s stock worth $4,630,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Tiptree by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 184,823 shares of the financial services provider’s stock worth $3,855,000 after acquiring an additional 1,271 shares during the last quarter. 37.78% of the stock is currently owned by institutional investors and hedge funds.

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.