Tiptree Inc. (NASDAQ:TIPT) Sees Large Drop in Short Interest

Tiptree Inc. (NASDAQ:TIPT - Get Free Report) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 124,800 shares, a decline of 33.5% from the December 31st total of 187,700 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily volume of 80,700 shares, the days-to-cover ratio is currently 1.5 days.

Analysts Set New Price Targets

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

Institutional Trading of Tiptree

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Algert Global LLC increased its position in Tiptree by 1.2% during the 3rd quarter. Algert Global LLC now owns 47,629 shares of the financial services provider's stock worth $932,000 after purchasing an additional 570 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of Tiptree by 2.8% during the third quarter. Tectonic Advisors LLC now owns 27,496 shares of the financial services provider's stock worth $538,000 after buying an additional 737 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in shares of Tiptree by 5.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 18,680 shares of the financial services provider's stock valued at $390,000 after buying an additional 1,000 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Tiptree by 8.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 17,185 shares of the financial services provider's stock valued at $336,000 after buying an additional 1,314 shares during the period. Finally, FMR LLC boosted its position in Tiptree by 43.1% during the third quarter. FMR LLC now owns 4,449 shares of the financial services provider's stock worth $87,000 after acquiring an additional 1,339 shares during the last quarter. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

Tiptree Price Performance

TIPT traded down $0.13 during midday trading on Friday, reaching $20.04. 71,518 shares of the company's stock were exchanged, compared to its average volume of 78,298. Tiptree has a 1-year low of $14.96 and a 1-year high of $24.09. The stock has a market capitalization of $742.68 million, a PE ratio of 20.66 and a beta of 1.32. The business's 50-day moving average price is $20.84 and its 200 day moving average price is $20.05.

Tiptree (NASDAQ:TIPT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%. The business had revenue of $494.36 million during the quarter.

Tiptree Announces Dividend

The business also recently declared a special dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. Tiptree's dividend payout ratio (DPR) is 24.74%.

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.