Tiptree Inc. (NASDAQ:TIPT) Sees Large Increase in Short Interest

Tiptree Inc. (NASDAQ:TIPT) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 212,400 shares, an increase of 39.7% from the February 28th total of 152,000 shares. Based on an average daily volume of 122,500 shares, the short-interest ratio is presently 1.7 days. Approximately 1.0% of the company’s stock are sold short.

Tiptree Trading Down 2.1 %

Shares of NASDAQ TIPT opened at $23.27 on Friday. The firm has a market capitalization of $867.02 million, a P/E ratio of 23.99 and a beta of 1.31. The firm’s 50-day moving average price is $21.48 and its 200-day moving average price is $20.90. Tiptree has a 1-year low of $15.52 and a 1-year high of $26.90.

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

Tiptree Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree’s dividend payout ratio is currently 18.60%.

Institutional Trading of Tiptree

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Tiptree by 166.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock valued at $3,592,000 after buying an additional 114,568 shares in the last quarter. Algert Global LLC raised its holdings in shares of Tiptree by 1.2% in the 3rd quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 570 shares during 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 valued at $87,000 after purchasing an additional 1,339 shares during the last quarter. PDT Partners LLC increased its holdings in Tiptree by 38.6% during the 3rd quarter. PDT Partners LLC now owns 19,431 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 5,413 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Tiptree during the 3rd quarter worth approximately $85,000. Institutional investors 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.