Tiptree (NASDAQ:TIPT) Trading Down 8.9%

Tiptree Inc. (NASDAQ:TIPT)’s stock price was down 8.9% on Wednesday . The company traded as low as $17.07 and last traded at $17.07. Approximately 1,703 shares changed hands during trading, a decline of 98% from the average daily volume of 99,198 shares. The stock had previously closed at $18.74.

Analyst Ratings Changes

Separately, StockNews.com cut Tiptree from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Tiptree Trading Up 0.1 %

The stock has a 50-day moving average of $17.49 and a two-hundred day moving average of $17.13. The firm has a market cap of $689.72 million, a price-to-earnings ratio of 29.95 and a beta of 1.30.

Tiptree Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 19th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Monday, August 19th. Tiptree’s dividend payout ratio is 42.11%.

Insider Transactions at Tiptree

In other Tiptree news, CEO Jonathan Ilany acquired 1,550 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average cost of $17.50 per share, for a total transaction of $27,125.00. Following the transaction, the chief executive officer now owns 192,021 shares of the company’s stock, valued at approximately $3,360,367.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 31.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tiptree

A number of institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. boosted its position in Tiptree by 12.4% during the fourth quarter. Federated Hermes Inc. now owns 62,396 shares of the financial services provider’s stock valued at $1,183,000 after purchasing an additional 6,898 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Tiptree in the 4th quarter valued at approximately $367,000. NFC Investments LLC acquired a new position in Tiptree in the fourth quarter worth approximately $416,000. Cove Street Capital LLC increased its holdings in Tiptree by 11.6% in the fourth quarter. Cove Street Capital LLC now owns 395,635 shares of the financial services provider’s stock worth $7,501,000 after buying an additional 41,277 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Tiptree by 272.3% during 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 in the last quarter. Institutional investors and hedge funds 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.