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

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

Tiptree Stock Performance

Shares of NASDAQ:TIPT traded down $0.31 during mid-day trading on Friday, hitting $18.68. 37,698 shares of the company traded hands, compared to its average volume of 96,540. The firm’s 50 day simple moving average is $18.27 and its 200 day simple moving average is $17.34. The firm has a market cap of $687.14 million, a P/E ratio of 32.77 and a beta of 1.30. Tiptree has a 52-week low of $14.74 and a 52-week high of $20.80.

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

Hedge Funds Weigh In On Tiptree

Several institutional investors have recently made changes to their positions in TIPT. Allspring Global Investments Holdings LLC bought a new stake in Tiptree during the 2nd quarter valued at $48,000. The Manufacturers Life Insurance Company acquired a new position in shares of Tiptree during the second quarter valued at about $176,000. BNP Paribas Financial Markets raised its holdings in shares of Tiptree by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock worth $219,000 after buying an additional 2,576 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Tiptree in the second quarter valued at about $231,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Tiptree during the 1st quarter worth about $245,000. 37.78% of the stock is owned by 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.