Tiptree (NASDAQ:TIPT) Sets New 1-Year High Following Dividend Announcement

Tiptree Inc. (NASDAQ:TIPT) reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The company traded as high as $21.96 and last traded at $21.96, with a volume of 232 shares traded. The stock had previously closed at $19.72.

The newly announced dividend which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Monday, November 18th. Tiptree’s payout ratio is currently 24.74%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Tiptree from a “strong-buy” rating to a “buy” rating in a report on Friday.

Tiptree Trading Down 1.1 %

The firm has a market capitalization of $742.79 million, a P/E ratio of 20.81 and a beta of 1.30. The business’s fifty day moving average is $19.61 and its 200 day moving average is $18.06.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $546.67 million for the quarter. Tiptree had a return on equity of 11.78% and a net margin of 2.05%.

Institutional Investors Weigh In On Tiptree

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in Tiptree in the 2nd quarter worth about $48,000. Copeland Capital Management LLC purchased a new position in shares of Tiptree in the third quarter worth approximately $56,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Tiptree during the second quarter valued at approximately $176,000. BNP Paribas Financial Markets lifted its position in shares of Tiptree by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 2,576 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Tiptree in the 2nd quarter worth approximately $231,000. 37.78% of the stock is owned by institutional investors and hedge funds.

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.