Tiptree (NASDAQ:TIPT) Sees Strong Trading Volume Following Dividend Announcement

Tiptree Inc. (NASDAQ:TIPT) saw unusually-strong trading volume on Thursday following a dividend announcement from the company. Approximately 207,752 shares were traded during mid-day trading, an increase of 135% from the previous session’s volume of 88,323 shares.The stock last traded at $23.02 and had previously closed at $21.90.

The newly announced dividend which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 1.04%. Tiptree’s dividend payout ratio is currently 24.74%.

Wall Street Analyst Weigh In

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

Tiptree Stock Up 5.0 %

The firm’s 50 day moving average is $20.20 and its 200 day moving average is $20.27. The firm has a market capitalization of $851.92 million, a price-to-earnings ratio of 23.70 and a beta of 1.30.

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

Institutional Trading of Tiptree

A number of institutional investors have recently bought and sold shares of TIPT. Invesco Ltd. lifted its holdings in Tiptree by 395.9% during the fourth quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider’s stock valued at $5,456,000 after purchasing an additional 208,814 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tiptree by 166.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock worth $3,592,000 after buying an additional 114,568 shares during the last quarter. Kennedy Capital Management LLC boosted its position in shares of Tiptree by 55.2% during the fourth quarter. Kennedy Capital Management LLC now owns 273,014 shares of the financial services provider’s stock worth $5,695,000 after acquiring an additional 97,078 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Tiptree by 15.0% in the 4th quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider’s stock worth $10,936,000 after purchasing an additional 68,338 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Tiptree by 76.5% during the 4th quarter. JPMorgan Chase & Co. now owns 139,797 shares of the financial services provider’s stock valued at $2,916,000 after purchasing an additional 60,595 shares in the last quarter. 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.