Tiptree (NASDAQ:TIPT) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Tiptree (NASDAQ:TIPT) from a buy rating to a strong-buy rating in a report published on Wednesday morning.

Tiptree Stock Down 2.1 %

Shares of Tiptree stock opened at $16.09 on Wednesday. Tiptree has a fifty-two week low of $13.52 and a fifty-two week high of $20.80. The firm has a market cap of $591.87 million, a PE ratio of 28.23 and a beta of 1.30. The business’s fifty day moving average is $16.77 and its two-hundred day moving average is $17.59.

Tiptree (NASDAQ:TIPT) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.44 earnings per share for the quarter. Tiptree had a return on equity of 12.49% and a net margin of 1.36%. The company had revenue of $498.22 million for the quarter.

Tiptree Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 20th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, May 17th. Tiptree’s dividend payout ratio (DPR) is currently 42.11%.

Insider Buying and Selling

In other news, CEO Jonathan Ilany bought 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $17.50 per share, with a total value of $27,125.00. Following the transaction, the chief executive officer now owns 192,021 shares of the company’s stock, valued at approximately $3,360,367.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 31.78% of the company’s stock.

Institutional Trading of Tiptree

Several large investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC increased its holdings in Tiptree by 16.7% in the 1st quarter. Ancora Advisors LLC now owns 62,765 shares of the financial services provider’s stock valued at $1,085,000 after purchasing an additional 8,969 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Tiptree in the 1st quarter valued at $245,000. Kennedy Capital Management LLC increased its holdings 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 purchasing an additional 131,871 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in Tiptree by 8.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 226,577 shares of the financial services provider’s stock valued at $3,915,000 after purchasing an additional 17,700 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Tiptree by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider’s stock valued at $19,958,000 after purchasing an additional 17,660 shares in the last quarter. 37.78% of the stock is currently owned by institutional investors and hedge funds.

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.