Separately, ValuEngine downgraded shares of Tiptree from a buy rating to a hold rating in a research note on Tuesday, September 10th.
NASDAQ TIPT opened at $7.21 on Thursday. The stock has a market capitalization of $240.48 million, a P/E ratio of 43.50 and a beta of -0.03. Tiptree has a 1 year low of $5.01 and a 1 year high of $7.80. The business’s fifty day moving average is $6.87 and its two-hundred day moving average is $6.36.
Tiptree (NASDAQ:TIPT) last announced its earnings results on Monday, August 5th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. Tiptree had a net margin of 2.17% and a return on equity of 1.49%. The company had revenue of $191.07 million for the quarter.
The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.22%. The ex-dividend date was Friday, August 16th.
In other news, insider Michael Gene Barnes bought 7,118 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $6.52 per share, with a total value of $46,409.36. Following the purchase, the insider now directly owns 7,974,218 shares in the company, valued at $51,991,901.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 94,171 shares of company stock worth $629,548. Company insiders own 25.56% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Tiptree by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,673,951 shares of the financial services provider’s stock valued at $14,947,000 after acquiring an additional 44,783 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Tiptree by 1.9% during the 1st quarter. TCW Group Inc. now owns 1,724,958 shares of the financial services provider’s stock valued at $10,919,000 after acquiring an additional 31,659 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Tiptree by 0.4% during the 2nd quarter. BlackRock Inc. now owns 1,455,498 shares of the financial services provider’s stock valued at $9,169,000 after acquiring an additional 6,289 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tiptree by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,288,789 shares of the financial services provider’s stock valued at $8,120,000 after acquiring an additional 16,740 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tiptree by 2.9% during the 2nd quarter. Northern Trust Corp now owns 279,563 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 7,887 shares in the last quarter. Institutional investors and hedge funds own 34.14% of the company’s stock.
Tiptree Inc, through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The company provides credit protection insurance, warranty and service contract products, and niche commercial and consumer insurance programs, as well as offers value-add services, including premium finance and business processing services.
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