Tiptree (NASDAQ:TIPT) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Tiptree (NASDAQ:TIPT) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

Tiptree Trading Up 1.0 %

TIPT opened at $18.87 on Friday. The firm’s 50 day simple moving average is $18.33 and its two-hundred day simple moving average is $17.36. The company has a market capitalization of $694.23 million, a PE ratio of 33.11 and a beta of 1.31. Tiptree has a 1-year low of $14.74 and a 1-year high of $20.80.

Tiptree (NASDAQ:TIPT) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.53 EPS for the quarter. Tiptree had a return on equity of 11.97% and a net margin of 1.62%. The company had revenue of $546.67 million for the quarter.

Tiptree Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Monday, August 19th. Tiptree’s dividend payout ratio is 42.11%.

Hedge Funds Weigh In On Tiptree

Several large investors have recently added to or reduced their stakes in TIPT. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tiptree in the second quarter worth $48,000. The Manufacturers Life Insurance Company bought a new position in Tiptree in the 2nd quarter worth $176,000. BNP Paribas Financial Markets increased its stake in 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 buying an additional 2,576 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Tiptree during the second quarter valued at about $231,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Tiptree in the first quarter valued at about $245,000. 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.