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

Shares of Tiptree Inc. (NASDAQ:TIPT - Get Free Report) saw an uptick in trading volume on Thursday following a dividend announcement from the company. 207,752 shares were traded during 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. Investors of record on Monday, March 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Monday, March 10th. Tiptree's dividend payout ratio (DPR) is presently 18.60%.

Tiptree Price Performance

The stock's fifty day moving average is $20.30 and its 200-day moving average is $20.35. The stock has a market capitalization of $848.58 million, a PE ratio of 23.61 and a beta of 1.30.

Tiptree (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of $503.60 million for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%.

Hedge Funds Weigh In On Tiptree

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Tiptree by 1.4% during the third quarter. Geode Capital Management LLC now owns 559,905 shares of the financial services provider's stock valued at $10,959,000 after purchasing an additional 7,974 shares in the last quarter. Royce & Associates LP lifted its holdings in Tiptree by 15.0% during the fourth quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider's stock valued at $10,936,000 after purchasing an additional 68,338 shares in the last quarter. State Street Corp lifted its holdings in Tiptree by 1.9% during the third quarter. State Street Corp now owns 494,299 shares of the financial services provider's stock valued at $9,673,000 after purchasing an additional 9,059 shares in the last quarter. Kennedy Capital Management LLC lifted its holdings in Tiptree by 55.2% during the fourth quarter. Kennedy Capital Management LLC now owns 273,014 shares of the financial services provider's stock valued at $5,695,000 after purchasing an additional 97,078 shares in the last quarter. Finally, 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 in the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

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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.