Tiptree (NASDAQ:TIPT) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Tiptree (NASDAQ:TIPT) from a buy rating to a hold rating in a report published on Monday.

Tiptree Stock Performance

TIPT opened at $21.18 on Monday. The firm has a market cap of $789.15 million, a price-to-earnings ratio of 21.84 and a beta of 1.19. The firm’s 50-day simple moving average is $22.60 and its 200-day simple moving average is $21.39. Tiptree has a twelve month low of $15.60 and a twelve month high of $26.90.

Tiptree (NASDAQ:TIPT) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $0.49 earnings per share for the quarter. The company had revenue of $497.43 million during the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%.

Tiptree Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Monday, May 12th. Tiptree’s dividend payout ratio (DPR) is presently 20.00%.

Institutional Trading of Tiptree

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TIPT. CWM LLC raised its stake in shares of Tiptree by 86.7% during the first quarter. CWM LLC now owns 1,535 shares of the financial services provider’s stock worth $37,000 after buying an additional 713 shares during the last quarter. Group One Trading LLC raised its position in shares of Tiptree by 192.8% during the 4th quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 3,856 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Tiptree by 10,791.3% in the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 2,482 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Tiptree in the 4th quarter worth $83,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Tiptree during the fourth quarter worth $85,000. 37.78% of the stock is currently owned by institutional investors and hedge funds.

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.