Tiptree (NASDAQ:TIPT) Stock Rating Upgraded by StockNews.com

Tiptree (NASDAQ:TIPT) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Tiptree Trading Up 3.9 %

Shares of TIPT opened at $17.18 on Wednesday. The company has a market cap of $631.55 million, a price-to-earnings ratio of 30.14 and a beta of 1.23. Tiptree has a 12 month low of $12.12 and a 12 month high of $20.80. The business’s fifty day simple moving average is $16.66 and its two-hundred day simple moving average is $17.57.

Tiptree (NASDAQ:TIPT) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.44 earnings per share for the quarter. The company had revenue of $498.22 million for the quarter. Tiptree had a net margin of 1.36% and a return on equity of 12.49%.

Insider Transactions at Tiptree

In related news, CEO Jonathan Ilany acquired 2,900 shares of the stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average cost of $16.95 per share, with a total value of $49,155.00. Following the transaction, the chief executive officer now directly owns 190,471 shares in the company, valued at $3,228,483.45. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 31.78% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TIPT. Vanguard Group Inc. grew its position in shares of Tiptree by 0.3% during the third quarter. Vanguard Group Inc. now owns 1,102,216 shares of the financial services provider’s stock valued at $18,473,000 after purchasing an additional 3,441 shares in the last quarter. Cannell Capital LLC grew its position in Tiptree by 17.2% in the 3rd quarter. Cannell Capital LLC now owns 884,084 shares of the financial services provider’s stock valued at $14,817,000 after acquiring an additional 129,529 shares during the last quarter. Breach Inlet Capital Management LLC bought a new stake in shares of Tiptree during the fourth quarter worth $14,894,000. Cove Street Capital LLC grew its stake in Tiptree by 7.1% in the 1st quarter. Cove Street Capital LLC now owns 423,767 shares of the financial services provider’s stock worth $7,323,000 after acquiring an additional 28,132 shares in the last quarter. Finally, Steamboat Capital Partners LLC purchased a new position in shares of Tiptree during the first quarter worth approximately $3,427,000. 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.