Tiptree (NASDAQ:TIPT) Trading Up 4.1% – Here’s Why

Shares of Tiptree Inc. (NASDAQ:TIPT) were up 4.1% on Tuesday . The stock traded as high as $23.64 and last traded at $24.19. Approximately 32,786 shares changed hands during trading, a decline of 62% from the average daily volume of 85,363 shares. The stock had previously closed at $23.24.

Tiptree Trading Up 8.6 %

The business has a 50-day moving average price of $21.14 and a 200-day moving average price of $20.76. The stock has a market cap of $940.04 million, a PE ratio of 26.11 and a beta of 1.31.

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

Tiptree Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree’s payout ratio is 18.60%.

Hedge Funds Weigh In On Tiptree

A number of hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in shares of Tiptree by 74.2% during the third quarter. Barclays PLC now owns 72,745 shares of the financial services provider’s stock worth $1,424,000 after purchasing an additional 30,985 shares in the last quarter. FMR LLC boosted its stake in Tiptree by 43.1% during the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,339 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tiptree by 166.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock worth $3,592,000 after buying an additional 114,568 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Tiptree by 55.9% in the third quarter. JPMorgan Chase & Co. now owns 79,202 shares of the financial services provider’s stock valued at $1,550,000 after buying an additional 28,400 shares during the last quarter. Finally, State Street Corp raised its position in shares of Tiptree by 1.9% in the third quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock valued at $9,673,000 after buying an additional 9,059 shares during the last quarter. Institutional investors and hedge funds own 37.78% of the company’s stock.

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.