Tiptree Inc. (NASDAQ:TIPT – Get Free Report) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $15.88 and traded as high as $16.87. Tiptree shares last traded at $16.80, with a volume of 26,376 shares.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on TIPT shares. StockNews.com started coverage on Tiptree in a report on Thursday, August 17th. They set a “buy” rating for the company. TheStreet upgraded Tiptree from a “c” rating to a “b-” rating in a report on Wednesday, August 16th.
Tiptree Trading Up 0.2 %
Tiptree (NASDAQ:TIPT – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. Tiptree had a return on equity of 11.31% and a net margin of 1.32%. The firm had revenue of $404.52 million for the quarter.
Tiptree Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 28th. Investors of record on Monday, August 21st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, August 18th. Tiptree’s payout ratio is 37.74%.
Hedge Funds Weigh In On Tiptree
Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in Tiptree by 183.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,704 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,102 shares in the last quarter. Dorsey Wright & Associates acquired a new stake in Tiptree in the 4th quarter valued at about $37,000. Credit Suisse AG acquired a new stake in Tiptree in the 2nd quarter valued at about $32,000. Acadian Asset Management LLC acquired a new stake in Tiptree in the 1st quarter valued at about $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Tiptree in the 1st quarter valued at about $79,000. Institutional investors and hedge funds own 35.90% of the company’s stock.
Tiptree Inc, through its subsidiaries, provides specialty insurance products and related services primarily in the United States. The company operates in two segments, Insurance and Mortgage. It offers niche; commercial lines insurance products, including professional liability, contractual liability, energy, allied health, general liability, directors' and officers' liability, life sciences, inland marine, contractors' equipment, contractors' liability, student legal liability, hospitality, and business owner insurance products; and personal lines insurance products, such as storage unit contents, manufactured housing, GAP, auto, credit life and disability, and collateral insurance products.
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