StockNews.com cut shares of Tiptree (NASDAQ:TIPT – Free Report) 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 – Get Free Report) 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
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.
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