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

StockNews.com downgraded shares of Tiptree (NASDAQ:TIPT) from a strong-buy rating to a buy rating in a report published on Wednesday.

Tiptree Stock Performance

Shares of TIPT opened at $19.40 on Wednesday. The firm has a market cap of $713.63 million, a PE ratio of 34.04 and a beta of 1.30. The firm’s 50 day moving average price is $17.63 and its 200 day moving average price is $17.16. Tiptree has a twelve month low of $14.74 and a twelve month high of $20.80.

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

Tiptree Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 19th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.24%. Tiptree’s payout ratio is presently 42.11%.

Insider Activity at Tiptree

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

Institutional Trading of Tiptree

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in Tiptree by 272.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider’s stock worth $40,000 after buying an additional 1,555 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Tiptree in the second quarter valued at about $48,000. The Manufacturers Life Insurance Company bought a new position in shares of Tiptree in the second quarter valued at about $176,000. BNP Paribas Financial Markets raised its position in shares of Tiptree by 25.6% in the first quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 2,576 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Tiptree during the second quarter worth about $231,000. 37.78% of the stock is currently owned by institutional investors.

Tiptree Company Profile

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.