Tiptree (NASDAQ:TIPT) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Tiptree (NASDAQ:TIPT) from a buy rating to a hold rating in a report published on Monday.

Tiptree Stock Performance

Shares of NASDAQ:TIPT opened at $21.18 on Monday. The company has a market capitalization of $789.15 million, a PE ratio of 21.84 and a beta of 1.19. The stock has a fifty day moving average of $22.60 and a 200-day moving average of $21.39. Tiptree has a one year low of $15.60 and a one year high of $26.90.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.49 EPS for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%. The firm had revenue of $497.43 million during the quarter.

Tiptree Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 12th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, May 12th. Tiptree’s dividend payout ratio (DPR) is presently 20.00%.

Institutional Trading of Tiptree

A number of institutional investors and hedge funds have recently made changes to their positions in TIPT. Barclays PLC lifted its position in Tiptree by 74.2% during the 3rd quarter. Barclays PLC now owns 72,745 shares of the financial services provider’s stock worth $1,424,000 after acquiring an additional 30,985 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Tiptree by 55.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 79,202 shares of the financial services provider’s stock valued at $1,550,000 after buying an additional 28,400 shares during the last quarter. Sanders Morris Harris LLC increased its position in Tiptree by 66.7% in the 4th quarter. Sanders Morris Harris LLC now owns 25,000 shares of the financial services provider’s stock worth $518,000 after buying an additional 10,000 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Tiptree by 23.5% during the fourth quarter. SG Americas Securities LLC now owns 15,485 shares of the financial services provider’s stock worth $323,000 after buying an additional 2,944 shares during the last quarter. Finally, Hodges Capital Management Inc. boosted its position in shares of Tiptree by 35.5% in the fourth quarter. Hodges Capital Management Inc. now owns 168,853 shares of the financial services provider’s stock valued at $3,522,000 after acquiring an additional 44,269 shares during the period. Institutional investors and hedge funds own 37.78% of the company’s stock.

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.