Tiptree (NASDAQ:TIPT) Trading 14.4% Higher - Here's What Happened

Tiptree Inc. (NASDAQ:TIPT - Get Free Report) rose 14.4% during trading on Tuesday . The stock traded as high as $20.86 and last traded at $22.76. Approximately 61,110 shares were traded during trading, a decline of 10% from the average daily volume of 68,018 shares. The stock had previously closed at $19.90.

Wall Street Analyst Weigh In

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

Tiptree Stock Down 1.6 %

The firm's 50-day moving average is $20.25 and its 200-day moving average is $20.29. The company has a market capitalization of $838.58 million, a PE ratio of 23.33 and a beta of 1.30.

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

Tiptree Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.06 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.06%. Tiptree's dividend payout ratio (DPR) is 24.74%.

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Hedge Funds Weigh In On Tiptree

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position 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 buying an additional 7,974 shares during the period. Royce & Associates LP boosted its holdings in Tiptree by 15.0% during the 4th quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider's stock valued at $10,936,000 after acquiring an additional 68,338 shares during the period. State Street Corp grew its position in Tiptree by 1.9% during the 3rd quarter. State Street Corp now owns 494,299 shares of the financial services provider's stock worth $9,673,000 after acquiring an additional 9,059 shares during the last quarter. Kennedy Capital Management LLC increased its stake in Tiptree by 55.2% in the 4th quarter. Kennedy Capital Management LLC now owns 273,014 shares of the financial services provider's stock worth $5,695,000 after purchasing an additional 97,078 shares during the period. Finally, Invesco Ltd. lifted its position in Tiptree by 395.9% in 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 during the last quarter. Hedge funds and other institutional investors own 37.78% of the company's stock.

About Tiptree

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.