Tiptree (NASDAQ:TIPT) Hits New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

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

Tiptree Stock Up 4.4 %

The business has a fifty day moving average of $19.67 and a 200 day moving average of $18.19. The company has a market cap of $809.38 million, a P/E ratio of 21.73 and a beta of 1.30.

Tiptree Dividend Announcement

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

Hedge Funds Weigh In On Tiptree

Several hedge funds and other institutional investors have recently modified their holdings of TIPT. Tectonic Advisors LLC boosted its position in Tiptree by 2.8% during the 3rd quarter. Tectonic Advisors LLC now owns 27,496 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 737 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Tiptree by 8.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,185 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 1,314 shares during the period. Rhumbline Advisers boosted its position in shares of Tiptree by 5.4% during the second quarter. Rhumbline Advisers now owns 38,566 shares of the financial services provider’s stock valued at $636,000 after purchasing an additional 1,977 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Tiptree by 25.6% during 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. Finally, Copeland Capital Management LLC purchased a new stake in Tiptree in the third quarter worth $56,000. Hedge funds and other institutional investors own 37.78% of the company’s stock.

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.