Tiptree (NASDAQ:TIPT) Rating Lowered to Buy at StockNews.com

Tiptree (NASDAQ:TIPT) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Tiptree Price Performance

Shares of NASDAQ TIPT opened at $19.96 on Tuesday. The stock has a market capitalization of $734.23 million, a P/E ratio of 35.02 and a beta of 1.31. Tiptree has a one year low of $14.74 and a one year high of $20.80. The firm’s 50 day simple moving average is $18.76 and its two-hundred day simple moving average is $17.45.

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

Institutional Trading of Tiptree

Several hedge funds and other institutional investors have recently bought and sold shares of TIPT. Vanguard Group Inc. grew its holdings in shares of Tiptree by 1.6% in the first quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider’s stock worth $19,958,000 after purchasing an additional 17,660 shares during the last quarter. Breach Inlet Capital Management LLC purchased a new position in shares of Tiptree in the fourth quarter valued at about $14,894,000. Cove Street Capital LLC raised its stake in shares of Tiptree by 7.1% during the first quarter. Cove Street Capital LLC now owns 423,767 shares of the financial services provider’s stock valued at $7,323,000 after acquiring an additional 28,132 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Tiptree by 8.5% during the first quarter. Hillsdale Investment Management Inc. now owns 226,577 shares of the financial services provider’s stock worth $3,915,000 after purchasing an additional 17,700 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Tiptree by 58.7% during the second quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock worth $3,387,000 after purchasing an additional 75,943 shares during the period. Institutional investors own 37.78% of the company’s stock.

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.