Tiptree (NASDAQ:TIPT) Hits New 52-Week High After Dividend Announcement

Shares of Tiptree Inc. (NASDAQ:TIPT) reached a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as $21.96 and last traded at $21.96, with a volume of 232 shares. The stock had previously closed at $19.72.

The newly announced dividend which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, November 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.19%. Tiptree’s dividend payout ratio (DPR) is 24.74%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Tiptree from a “strong-buy” rating to a “buy” rating in a research report on Friday.

Tiptree Price Performance

The stock has a market capitalization of $742.79 million, a price-to-earnings ratio of 20.81 and a beta of 1.30. The company’s 50-day simple moving average is $19.61 and its 200-day simple moving average is $18.06.

Tiptree (NASDAQ:TIPT) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share for the quarter. The company had revenue of $546.67 million for the quarter. Tiptree had a return on equity of 11.78% and a net margin of 2.05%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Tectonic Advisors LLC grew its stake in shares of Tiptree by 2.8% in the third quarter. Tectonic Advisors LLC now owns 27,496 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 737 shares in the last quarter. Copeland Capital Management LLC bought a new stake in Tiptree in the 3rd quarter valued at about $56,000. SG Americas Securities LLC grew its position in shares of Tiptree by 98.5% during the 3rd quarter. SG Americas Securities LLC now owns 12,541 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 6,223 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Tiptree during the second quarter worth approximately $320,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Tiptree in the second quarter valued at approximately $231,000. Institutional investors own 37.78% of the company’s stock.

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.