Tiptree Inc. (NASDAQ:TIPT - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $25.57 and last traded at $24.84, with a volume of 652759 shares traded. The stock had previously closed at $23.24.
Tiptree Trading Down 2.1 %
The business has a 50 day moving average price of $21.48 and a 200 day moving average price of $20.90. The company has a market capitalization of $867.02 million, a P/E ratio of 23.99 and a beta of 1.31.
Tiptree (NASDAQ:TIPT - Get Free Report) last issued its earnings results on Wednesday, February 26th. The financial services provider reported $0.67 EPS for the quarter. The firm had revenue of $503.60 million during the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%.
Tiptree Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 annualized dividend and a yield of 1.03%. Tiptree's dividend payout ratio is presently 18.60%.
Institutional Investors Weigh In On Tiptree
Several large investors have recently modified their holdings of TIPT. Invesco Ltd. grew its position in shares of Tiptree by 395.9% in the 4th 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 period. 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 valued at $3,592,000 after buying an additional 114,568 shares during the period. Kennedy Capital Management LLC increased 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 in the last quarter. Royce & Associates LP increased its position in shares of Tiptree by 15.0% during the fourth quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider's stock worth $10,936,000 after acquiring an additional 68,338 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Tiptree by 76.5% during the fourth quarter. JPMorgan Chase & Co. now owns 139,797 shares of the financial services provider's stock worth $2,916,000 after acquiring an additional 60,595 shares during the period. 37.78% of the stock is currently owned by institutional investors.
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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