Tiptree Inc. (NASDAQ:TIPT) Short Interest Update

Tiptree Inc. (NASDAQ:TIPT) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 193,700 shares, a drop of 28.8% from the October 15th total of 272,100 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 66,900 shares, the short-interest ratio is currently 2.9 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Tiptree

Institutional investors and hedge funds have recently modified their holdings of the stock. Kennedy Capital Management LLC boosted its stake in Tiptree by 538.6% in the 1st quarter. Kennedy Capital Management LLC now owns 156,356 shares of the financial services provider’s stock valued at $2,702,000 after buying an additional 131,871 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 acquiring an additional 114,568 shares during the last quarter. Millennium Management LLC increased its holdings in Tiptree by 58.7% during the 2nd 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 in the last quarter. AQR Capital Management LLC acquired a new position in Tiptree in the second quarter worth $859,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Tiptree during the second quarter worth $671,000. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

Tiptree Trading Down 0.9 %

Shares of Tiptree stock traded down $0.19 on Thursday, reaching $21.63. 98,290 shares of the company were exchanged, compared to its average volume of 91,008. Tiptree has a fifty-two week low of $14.96 and a fifty-two week high of $22.94. The stock has a fifty day moving average price of $20.00 and a 200-day moving average price of $18.43. The firm has a market capitalization of $801.61 million, a price-to-earnings ratio of 22.30 and a beta of 1.30.

Tiptree Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, November 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.11%. Tiptree’s dividend payout ratio is 24.74%.

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.