Tiptree (NASDAQ:TIPT) Share Price Crosses Below 200 Day Moving Average of $17.49

Tiptree Inc. (NASDAQ:TIPT) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.49 and traded as low as $16.06. Tiptree shares last traded at $16.45, with a volume of 55,425 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised Tiptree from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 19th.

Tiptree Trading Up 2.6 %

The company has a market cap of $605.03 million, a PE ratio of 28.86 and a beta of 1.30. The firm has a 50 day moving average of $16.81 and a two-hundred day moving average of $17.49.

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

Tiptree Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 20th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, May 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.46%. Tiptree’s payout ratio is 42.11%.

Insider Activity

In other news, CEO Jonathan Ilany purchased 1,550 shares of the stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $17.50 per share, with a total value of $27,125.00. Following the acquisition, the chief executive officer now directly owns 192,021 shares of the company’s stock, valued at $3,360,367.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 31.78% of the company’s stock.

Hedge Funds Weigh In On Tiptree

Institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management LLC grew its position in shares of Tiptree by 2.4% during the third quarter. Kennedy Capital Management LLC now owns 24,056 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 565 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Tiptree by 10.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 1,473 shares in the last quarter. Swiss National Bank raised its stake in shares of Tiptree by 3.2% during the third quarter. Swiss National Bank now owns 48,523 shares of the financial services provider’s stock valued at $813,000 after acquiring an additional 1,500 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Tiptree by 272.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 1,555 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Tiptree by 9.2% during the third quarter. Hsbc Holdings PLC now owns 18,927 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 1,595 shares in the last quarter. 37.78% of the stock is owned by 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.