Tiptree (NASDAQ:TIPT - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Friday.
Tiptree Stock Performance
Tiptree stock traded down $0.22 during midday trading on Friday, reaching $20.19. The company's stock had a trading volume of 98,896 shares, compared to its average volume of 90,594. The firm has a market capitalization of $742.79 million, a PE ratio of 20.81 and a beta of 1.30. Tiptree has a fifty-two week low of $14.96 and a fifty-two week high of $21.50. The stock's 50 day simple moving average is $19.61 and its 200 day simple moving average is $18.06.
Tiptree (NASDAQ:TIPT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.53 EPS for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.78%. The firm had revenue of $546.67 million during the quarter.
Hedge Funds Weigh In On Tiptree
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tectonic Advisors LLC increased its position in shares of Tiptree by 2.8% in the third quarter. Tectonic Advisors LLC now owns 27,496 shares of the financial services provider's stock valued at $538,000 after buying an additional 737 shares in the last quarter. Copeland Capital Management LLC purchased a new position in Tiptree during the 3rd quarter valued at about $56,000. SG Americas Securities LLC raised its position in Tiptree by 98.5% during the third quarter. SG Americas Securities LLC now owns 12,541 shares of the financial services provider's stock worth $245,000 after acquiring an additional 6,223 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Tiptree during the second quarter worth about $320,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Tiptree in the second quarter valued at about $231,000. 37.78% of the stock is owned by institutional investors and hedge funds.
About Tiptree
(
Get Free Report)
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.
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