Tiptree (NASDAQ:TIPT) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Tiptree (NASDAQ:TIPT) from a buy rating to a strong-buy rating in a research note released on Wednesday.

Tiptree Price Performance

NASDAQ TIPT opened at $19.47 on Wednesday. The firm has a market cap of $716.20 million, a P/E ratio of 34.16 and a beta of 1.31. The stock’s 50-day moving average is $19.00 and its 200-day moving average is $17.58. Tiptree has a one year low of $14.74 and a one year 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 company 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%.

Tiptree Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, August 19th. Tiptree’s dividend payout ratio is currently 42.11%.

Institutional Investors Weigh In On Tiptree

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Tiptree in the 2nd quarter valued at approximately $48,000. The Manufacturers Life Insurance Company acquired a new stake in Tiptree in the 2nd quarter valued at approximately $176,000. BNP Paribas Financial Markets raised its position in Tiptree by 25.6% in the 1st 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 during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Tiptree in the 2nd quarter valued at approximately $231,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Tiptree in the 1st quarter valued at 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.