Tiptree (NASDAQ:TIPT) Reaches New 12-Month High – What’s Next?

Tiptree Inc. (NASDAQ:TIPT)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $22.92 and last traded at $22.60, with a volume of 8811 shares changing hands. The stock had previously closed at $21.08.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Tiptree from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

Tiptree Price Performance

The firm has a market cap of $814.12 million, a price-to-earnings ratio of 22.36 and a beta of 1.30. The firm has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $18.24.

Tiptree Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, November 18th. Tiptree’s payout ratio is 24.74%.

Institutional Trading of Tiptree

Hedge funds have recently modified their holdings of the stock. Tectonic Advisors LLC raised its position 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 worth $538,000 after acquiring an additional 737 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Tiptree by 8.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 17,185 shares of the financial services provider’s stock valued at $336,000 after buying an additional 1,314 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Tiptree by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 38,566 shares of the financial services provider’s stock worth $636,000 after buying an additional 1,977 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Tiptree by 25.6% during the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock valued at $219,000 after buying an additional 2,576 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new stake in Tiptree in the 3rd quarter valued at $56,000. Hedge funds and other 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.