Tiptree (NASDAQ:TIPT) Hits New 1-Year High After Dividend Announcement

Tiptree Inc. (NASDAQ:TIPT)’s stock price hit a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $21.96 and last traded at $21.96, with a volume of 232 shares. The stock had previously closed at $19.72.

The newly announced dividend which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, November 18th. Tiptree’s dividend payout ratio (DPR) is presently 24.74%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Tiptree from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Tiptree Trading Down 1.1 %

The company’s 50-day moving average is $19.61 and its 200-day moving average is $18.06. The firm has a market cap of $742.79 million, a price-to-earnings ratio of 20.81 and a beta of 1.30.

Tiptree (NASDAQ:TIPT) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share for the quarter. Tiptree had a return on equity of 11.78% and a net margin of 2.05%. The firm had revenue of $546.67 million for the quarter.

Institutional Trading of Tiptree

Several institutional investors and hedge funds have recently modified their holdings of TIPT. Tectonic Advisors LLC grew its position in Tiptree by 2.8% in the third quarter. Tectonic Advisors LLC now owns 27,496 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 737 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Tiptree in the 3rd quarter valued at approximately $56,000. SG Americas Securities LLC grew its holdings in shares of Tiptree by 98.5% during the 3rd quarter. SG Americas Securities LLC now owns 12,541 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 6,223 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Tiptree during the 2nd quarter worth approximately $320,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Tiptree during the 2nd quarter worth approximately $231,000. 37.78% of the stock is currently 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.