Tiptree (NASDAQ:TIPT) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of Tiptree Inc. (NASDAQ:TIPT) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.16 and traded as low as $19.37. Tiptree shares last traded at $19.84, with a volume of 48,408 shares trading hands.

Wall Street Analyst Weigh In

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

Tiptree Trading Up 1.0 %

The stock’s 50 day moving average is $20.43 and its 200-day moving average is $20.16. The company has a market cap of $735.19 million, a P/E ratio of 20.45 and a beta of 1.30.

Tiptree Announces Dividend

The company also recently announced a special dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. Tiptree’s dividend payout ratio is presently 24.74%.

Institutional Trading of Tiptree

Several institutional investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC purchased a new stake in shares of Tiptree during the 3rd quarter valued at about $56,000. KLP Kapitalforvaltning AS bought a new position in Tiptree during the fourth quarter valued at approximately $83,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tiptree in the third quarter worth approximately $85,000. FMR LLC grew its position in Tiptree by 43.1% in the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,339 shares during the period. Finally, Quest Partners LLC purchased a new stake in Tiptree during the 3rd quarter valued at $149,000. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

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.