Tiptree Inc. (NASDAQ:TIPT) Short Interest Update

Tiptree Inc. (NASDAQ:TIPT) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 193,700 shares, a decline of 28.8% from the October 15th total of 272,100 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 66,900 shares, the short-interest ratio is currently 2.9 days.

Tiptree Price Performance

NASDAQ:TIPT traded down $0.19 during trading hours on Thursday, reaching $21.63. 98,290 shares of the company traded hands, compared to its average volume of 91,008. The stock has a market cap of $801.61 million, a P/E ratio of 22.30 and a beta of 1.30. The firm’s 50-day moving average is $20.00 and its 200-day moving average is $18.43. Tiptree has a 1-year low of $14.96 and a 1-year high of $22.94.

Tiptree Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, November 18th. Tiptree’s payout ratio is 24.74%.

Institutional Investors Weigh In On Tiptree

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in shares of Tiptree by 25.6% during 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 during the last quarter. Oppenheimer Asset Management Inc. grew its position in Tiptree by 10.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 1,473 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tiptree by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider’s stock valued at $19,958,000 after purchasing an additional 17,660 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in Tiptree by 8.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 226,577 shares of the financial services provider’s stock worth $3,915,000 after buying an additional 17,700 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its position in Tiptree by 538.6% in the 1st quarter. Kennedy Capital Management LLC now owns 156,356 shares of the financial services provider’s stock valued at $2,702,000 after buying an additional 131,871 shares during the last quarter. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Tiptree from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

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.