Tiptree Inc. (NASDAQ:TIPT - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $24.09 and last traded at $22.31, with a volume of 5684 shares changing hands. The stock had previously closed at $22.25.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded shares of Tiptree from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st.
Get Our Latest Stock Report on TIPT
Tiptree Stock Down 1.4 %
The firm has a market capitalization of $810.50 million, a PE ratio of 22.55 and a beta of 1.30. The firm's 50-day moving average price is $20.13 and its two-hundred day moving average price is $18.55.
Tiptree Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Monday, November 18th. Tiptree's payout ratio is 24.74%.
Hedge Funds Weigh In On Tiptree
Several large investors have recently bought and sold shares of the stock. Algert Global LLC grew its holdings in shares of Tiptree by 1.2% in 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 during the last quarter. Tectonic Advisors LLC grew its holdings in 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. Oppenheimer Asset Management Inc. grew its stake in 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. FMR LLC lifted its position in shares of Tiptree by 43.1% during the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider's stock valued at $87,000 after buying an additional 1,339 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its holdings in Tiptree by 1.2% during the 3rd quarter. Hodges Capital Management Inc. now owns 124,584 shares of the financial services provider's stock worth $2,438,000 after purchasing an additional 1,529 shares in the last quarter. 37.78% of the stock is currently 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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