Tiptree (NASDAQ:TIPT) Sets New 1-Year High – Here’s Why

Shares of Tiptree Inc. (NASDAQ:TIPT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.57 and last traded at $24.84, with a volume of 652759 shares trading hands. The stock had previously closed at $23.24.

Tiptree Stock Performance

The business’s 50-day moving average price is $21.42 and its 200-day moving average price is $20.85. The stock has a market cap of $886.02 million, a P/E ratio of 24.52 and a beta of 1.31.

Tiptree (NASDAQ:TIPT) last issued its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.67 EPS for the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%. The business had revenue of $503.60 million during the quarter.

Tiptree Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree’s dividend payout ratio is currently 18.60%.

Institutional Trading of Tiptree

Several institutional investors and hedge funds have recently modified their holdings of TIPT. Group One Trading LLC boosted its holdings in Tiptree by 192.8% in the 4th quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider’s stock worth $39,000 after buying an additional 3,856 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Tiptree in the fourth quarter valued at about $83,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tiptree in the third quarter worth about $85,000. Aquatic Capital Management LLC purchased a new stake in shares of Tiptree during the fourth quarter worth about $85,000. Finally, FMR LLC raised its stake in Tiptree by 43.1% during the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,339 shares during the period. 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.