Tiptree (NASDAQ:TIPT) Trading Up 3.1% – Here’s What Happened

Tiptree Inc. (NASDAQ:TIPT) was up 3.1% on Monday . The company traded as high as $24.23 and last traded at $23.98. Approximately 114,278 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 91,462 shares. The stock had previously closed at $23.27.

Tiptree Stock Performance

The firm has a 50-day moving average of $21.63 and a 200-day moving average of $20.98. The firm has a market capitalization of $886.76 million, a P/E ratio of 24.54 and a beta of 1.31.

Tiptree (NASDAQ:TIPT) last announced its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%. The firm had revenue of $503.60 million for the quarter.

Tiptree Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree’s payout ratio is presently 18.60%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tiptree by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,431 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 608 shares during the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of Tiptree by 5.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 18,680 shares of the financial services provider’s stock valued at $390,000 after buying an additional 1,000 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of Tiptree by 0.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 221,977 shares of the financial services provider’s stock worth $4,630,000 after buying an additional 1,200 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tiptree by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 184,823 shares of the financial services provider’s stock worth $3,855,000 after acquiring an additional 1,271 shares during the period. Finally, FMR LLC increased its position in Tiptree by 43.1% during the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,339 shares during the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

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.