Tiptree (NASDAQ:TIPT) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of Tiptree (NASDAQ:TIPT) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.

Tiptree Price Performance

NASDAQ:TIPT opened at $19.40 on Wednesday. The business has a fifty day simple moving average of $17.63 and a two-hundred day simple moving average of $17.15. Tiptree has a 1 year low of $14.74 and a 1 year high of $20.80. The company has a market capitalization of $713.63 million, a P/E ratio of 34.04 and a beta of 1.30.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 EPS for the quarter. Tiptree had a return on equity of 11.97% and a net margin of 1.62%. The firm had revenue of $546.67 million during the quarter.

Tiptree Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 19th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Monday, August 19th. Tiptree’s dividend payout ratio is 42.11%.

Insider Activity at Tiptree

In other Tiptree news, CEO Jonathan Ilany acquired 1,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $17.50 per share, with a total value of $27,125.00. Following the completion of the purchase, the chief executive officer now owns 192,021 shares of the company’s stock, valued at $3,360,367.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 31.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tiptree

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Tiptree by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider’s stock worth $19,958,000 after purchasing an additional 17,660 shares during the last quarter. Breach Inlet Capital Management LLC bought a new stake in Tiptree during the fourth quarter worth about $14,894,000. Cove Street Capital LLC lifted its stake in Tiptree by 7.1% during the first quarter. Cove Street Capital LLC now owns 423,767 shares of the financial services provider’s stock worth $7,323,000 after purchasing an additional 28,132 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in Tiptree by 8.5% during the first quarter. Hillsdale Investment Management Inc. now owns 226,577 shares of the financial services provider’s stock worth $3,915,000 after purchasing an additional 17,700 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Tiptree by 58.7% during the second quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock worth $3,387,000 after purchasing an additional 75,943 shares during the last quarter. 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.