Tiptree Inc. (NASDAQ:TIPT) Plans $0.06 Quarterly Dividend

Tiptree Inc. (NASDAQ:TIPT) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Monday, March 10th will be paid a dividend of 0.06 per share by the financial services provider on Monday, March 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, March 10th.

Tiptree has increased its dividend by an average of 14.5% annually over the last three years.

Tiptree Stock Performance

Shares of TIPT stock traded up $1.09 during trading hours on Thursday, reaching $22.99. The company had a trading volume of 394,370 shares, compared to its average volume of 93,304. The stock has a fifty day moving average of $20.20 and a 200-day moving average of $20.27. The company has a market capitalization of $851.92 million, a price-to-earnings ratio of 23.70 and a beta of 1.30. Tiptree has a 12-month low of $15.52 and a 12-month high of $24.09.

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

Analyst Ratings Changes

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

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.