StockNews.com Lowers Tiptree (NASDAQ:TIPT) 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 Tuesday.

Tiptree Price Performance

TIPT stock opened at $20.11 on Tuesday. The company’s 50 day simple moving average is $18.82 and its 200-day simple moving average is $17.47. Tiptree has a 12 month low of $14.74 and a 12 month high of $20.80. The firm has a market capitalization of $739.75 million, a PE ratio of 35.28 and a beta of 1.31.

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

Tiptree Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.19%. Tiptree’s dividend payout ratio (DPR) is 42.11%.

Institutional Investors Weigh In On Tiptree

A number of hedge funds and other institutional investors have recently modified their holdings of TIPT. Cubist Systematic Strategies LLC purchased a new position in shares of Tiptree during the second quarter valued at approximately $320,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Tiptree during the 2nd quarter worth $231,000. Algert Global LLC boosted its holdings in shares of Tiptree by 7.7% during the second quarter. Algert Global LLC now owns 47,059 shares of the financial services provider’s stock worth $776,000 after purchasing an additional 3,379 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Tiptree in the second quarter valued at $176,000. Finally, Millennium Management LLC increased its stake in Tiptree by 58.7% in the second quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock valued at $3,387,000 after purchasing an additional 75,943 shares during the last quarter. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

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.