Tiptree (NASDAQ:TIPT) Downgraded by StockNews.com

StockNews.com cut shares of Tiptree (NASDAQ:TIPT) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

Tiptree Trading Up 0.8 %

Shares of Tiptree stock opened at $20.11 on Tuesday. The business’s fifty day moving average price is $18.82 and its 200 day moving average price is $17.47. Tiptree has a twelve month low of $14.74 and a twelve month high of $20.80. The stock has a market capitalization of $739.75 million, a P/E ratio of 35.28 and a beta of 1.31.

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

Tiptree Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, August 19th. Tiptree’s payout ratio is currently 42.11%.

Hedge Funds Weigh In On Tiptree

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

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.