Tiptree Inc. (NASDAQ:TIPT) Short Interest Down 21.3% in April

Tiptree Inc. (NASDAQ:TIPT) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 193,600 shares, a decline of 21.3% from the March 31st total of 246,000 shares. Based on an average daily trading volume, of 113,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.9% of the shares of the company are sold short.

Tiptree Stock Up 0.6 %

NASDAQ TIPT opened at $15.97 on Monday. The company has a market cap of $587.07 million, a PE ratio of 49.91 and a beta of 1.19. Tiptree has a 52 week low of $12.12 and a 52 week high of $20.80. The firm’s 50-day simple moving average is $16.80 and its two-hundred day simple moving average is $17.55.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $0.20 EPS for the quarter. Tiptree had a net margin of 0.85% and a return on equity of 11.10%. The business had revenue of $446.37 million for the quarter.

Tiptree Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from Tiptree’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, March 8th. Tiptree’s dividend payout ratio is presently 75.00%.

Insider Buying and Selling

In other Tiptree news, CEO Jonathan Ilany acquired 2,900 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were acquired at an average cost of $16.95 per share, with a total value of $49,155.00. Following the completion of the acquisition, the chief executive officer now directly owns 190,471 shares in the company, valued at $3,228,483.45. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Tiptree

A number of institutional investors and hedge funds have recently modified their holdings of TIPT. SG Americas Securities LLC purchased a new stake in shares of Tiptree in the third quarter worth about $147,000. Raymond James & Associates increased its position in shares of Tiptree by 25.3% in the third quarter. Raymond James & Associates now owns 75,100 shares of the financial services provider’s stock worth $1,259,000 after purchasing an additional 15,142 shares during the last quarter. Swiss National Bank increased its position in shares of Tiptree by 3.2% in the third quarter. Swiss National Bank now owns 48,523 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 1,500 shares during the last quarter. Cove Street Capital LLC increased its position in shares of Tiptree by 8.2% in the third quarter. Cove Street Capital LLC now owns 354,358 shares of the financial services provider’s stock worth $5,776,000 after purchasing an additional 26,719 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Tiptree by 9.2% in the third quarter. Hsbc Holdings PLC now owns 18,927 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 1,595 shares during 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.