StockNews.com Downgrades Tiptree (NASDAQ:TIPT) to Buy

Tiptree (NASDAQ:TIPT) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

Tiptree Stock Performance

TIPT stock opened at $18.73 on Wednesday. The company has a market cap of $688.89 million, a price-to-earnings ratio of 32.86 and a beta of 1.30. The business’s 50-day moving average is $17.07 and its two-hundred day moving average is $17.28. Tiptree has a fifty-two week low of $14.30 and a fifty-two week high of $20.80.

Tiptree (NASDAQ:TIPT) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.44 earnings per share for the quarter. Tiptree had a net margin of 1.36% and a return on equity of 12.49%. The firm had revenue of $498.22 million for the quarter.

Insiders Place Their Bets

In related news, CEO Jonathan Ilany acquired 1,550 shares of the stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $17.50 per share, with a total value of $27,125.00. Following the transaction, the chief executive officer now directly owns 192,021 shares in the company, valued at $3,360,367.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 31.78% of the company’s stock.

Hedge Funds Weigh In On Tiptree

Several hedge funds have recently modified their holdings of TIPT. Tower Research Capital LLC TRC raised its stake in shares of Tiptree by 272.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 1,555 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Tiptree by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 2,576 shares during the period. SG Americas Securities LLC increased its holdings in shares of Tiptree by 34.5% in the 4th quarter. SG Americas Securities LLC now owns 11,829 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 3,035 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Tiptree in the first quarter worth about $245,000. Finally, Oppenheimer Asset Management Inc. grew its holdings 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 worth $281,000 after purchasing an additional 1,473 shares during the last quarter. Hedge funds and other institutional investors own 37.78% of the company’s stock.

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.