Tiptree (NASDAQ:TIPT) Trading 4.5% Higher - Here's Why

Tiptree Inc. (NASDAQ:TIPT - Get Free Report)'s share price rose 4.5% during trading on Tuesday . The stock traded as high as $23.19 and last traded at $23.01. Approximately 43,413 shares traded hands during trading, a decline of 55% from the average daily volume of 96,896 shares. The stock had previously closed at $22.02.

Tiptree Trading Down 0.9 %

The stock's fifty day moving average price is $22.20 and its 200 day moving average price is $21.23. The stock has a market cap of $838.70 million, a P/E ratio of 23.21 and a beta of 1.19.

Tiptree (NASDAQ:TIPT - Get Free Report) last released 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 for the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%.

Tiptree Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.24 dividend on an annualized basis and a yield of 1.07%. Tiptree's payout ratio is currently 18.60%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TIPT. FMR LLC raised its stake in 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. State Street Corp lifted its holdings in Tiptree by 1.9% in the third quarter. State Street Corp now owns 494,299 shares of the financial services provider's stock valued at $9,673,000 after acquiring an additional 9,059 shares during the period. Barclays PLC boosted its position in Tiptree by 74.2% in the third quarter. Barclays PLC now owns 72,745 shares of the financial services provider's stock worth $1,424,000 after purchasing an additional 30,985 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tiptree by 1.4% during the 3rd 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 during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Tiptree by 55.9% during the third quarter. JPMorgan Chase & Co. now owns 79,202 shares of the financial services provider's stock valued at $1,550,000 after purchasing an additional 28,400 shares in the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

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.