Tiptree (NASDAQ:TIPT) Reaches New 12-Month High – Here’s What Happened

Tiptree Inc. (NASDAQ:TIPT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.92 and last traded at $22.60, with a volume of 8811 shares trading hands. The stock had previously closed at $21.08.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Tiptree from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

Tiptree Stock Up 1.8 %

The firm’s 50 day simple moving average is $19.76 and its 200 day simple moving average is $18.24. The company has a market capitalization of $814.12 million, a PE ratio of 22.36 and a beta of 1.30.

Tiptree Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a $0.06 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.24 annualized dividend and a yield of 1.09%. Tiptree’s dividend payout ratio (DPR) is 24.74%.

Hedge Funds Weigh In On Tiptree

Institutional investors have recently modified their holdings of the stock. Tectonic Advisors LLC increased its holdings in Tiptree by 2.8% during the 3rd quarter. Tectonic Advisors LLC now owns 27,496 shares of the financial services provider’s stock worth $538,000 after purchasing an additional 737 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Tiptree by 8.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 17,185 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 1,314 shares during the period. Rhumbline Advisers grew its holdings in Tiptree by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 38,566 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 1,977 shares in the last quarter. BNP Paribas Financial Markets increased its position in Tiptree by 25.6% during the 1st 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, Copeland Capital Management LLC bought a new position in Tiptree in the third quarter worth approximately $56,000. 37.78% of the stock is 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.