Tiptree (NASDAQ:TIPT) Reaches New 52-Week High – Still a Buy?

Shares of Tiptree Inc. (NASDAQ:TIPT) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.96 and last traded at $21.96, with a volume of 232 shares trading hands. The stock had previously closed at $19.72.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Tiptree from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 25th.

Tiptree Stock Performance

The company has a 50 day simple moving average of $19.55 and a 200 day simple moving average of $18.03. The company has a market capitalization of $761.45 million, a PE ratio of 37.47 and a beta of 1.30.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings data 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 during the quarter.

Institutional Investors Weigh In On Tiptree

A number of large investors have recently made changes to their positions in TIPT. BNP Paribas Financial Markets grew 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 in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Tiptree in the first quarter valued at approximately $446,000. Empowered Funds LLC grew its position in shares of Tiptree by 8.1% in the first quarter. Empowered Funds LLC now owns 155,893 shares of the financial services provider’s stock valued at $2,694,000 after purchasing an additional 11,725 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Tiptree by 10.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 1,473 shares in the last quarter. Finally, Steamboat Capital Partners LLC purchased a new stake in shares of Tiptree in the first quarter valued at approximately $3,427,000. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

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.