Tiptree (NASDAQ:TIPT) Shares Pass Above Fifty Day Moving Average of $15.88

Shares of Tiptree Inc. (NASDAQ:TIPT) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.88 and traded as high as $16.87. Tiptree shares last traded at $16.80, with a volume of 26,376 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TIPT shares. StockNews.com started coverage on Tiptree in a research note on Thursday, August 17th. They set a “buy” rating for the company. TheStreet raised Tiptree from a “c” rating to a “b-” rating in a research note on Wednesday, August 16th.

Tiptree Stock Performance

The firm has a fifty day simple moving average of $15.88 and a 200 day simple moving average of $14.79. The company has a market capitalization of $617.40 million, a PE ratio of 31.70 and a beta of 1.10.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.58 EPS for the quarter. The company had revenue of $404.52 million for the quarter. Tiptree had a return on equity of 11.31% and a net margin of 1.32%.

Tiptree Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Monday, August 21st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.20 annualized dividend and a yield of 1.19%. Tiptree’s payout ratio is currently 37.74%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Cannell Capital LLC increased its holdings in shares of Tiptree by 5.6% in the 1st quarter. Cannell Capital LLC now owns 628,397 shares of the financial services provider’s stock valued at $9,156,000 after acquiring an additional 33,363 shares during the period. Dorsey Wright & Associates purchased a new position in shares of Tiptree in the 4th quarter valued at $37,000. Federated Hermes Inc. purchased a new position in shares of Tiptree in the 1st quarter valued at $806,000. SG Americas Securities LLC increased its holdings in shares of Tiptree by 33.6% in the 1st quarter. SG Americas Securities LLC now owns 11,332 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 2,852 shares during the period. Finally, Martingale Asset Management L P purchased a new position in shares of Tiptree in the 1st quarter valued at $231,000. 35.90% of the stock is currently 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. The company operates in two segments, Insurance and Mortgage. It offers niche; commercial lines insurance products, including professional liability, contractual liability, energy, allied health, general liability, directors' and officers' liability, life sciences, inland marine, contractors' equipment, contractors' liability, student legal liability, hospitality, and business owner insurance products; and personal lines insurance products, such as storage unit contents, manufactured housing, GAP, auto, credit life and disability, and collateral insurance products.