Tiptree (NASDAQ:TIPT) Shares Cross Below 200-Day Moving Average of $17.57

Tiptree Inc. (NASDAQ:TIPT)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.57 and traded as low as $15.80. Tiptree shares last traded at $16.01, with a volume of 96,255 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, TheStreet lowered shares of Tiptree from a “b-” rating to a “c+” rating in a research report on Friday, December 29th.

Tiptree Trading Up 0.1 %

The company has a market capitalization of $588.53 million, a PE ratio of 50.03 and a beta of 1.19. The business’s 50-day simple moving average is $17.07 and its 200-day simple moving average is $17.57.

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

Tiptree Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 11th were given a dividend of $0.06 per share. The ex-dividend date was Friday, March 8th. This is a positive change from Tiptree’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.50%. Tiptree’s dividend payout ratio (DPR) is currently 75.00%.

Insiders Place Their Bets

In other news, CEO Jonathan Ilany bought 2,900 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average cost of $16.95 per share, with a total value of $49,155.00. Following the acquisition, 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 this hyperlink. 31.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tiptree

Several institutional investors have recently made changes to their positions in the company. Kennedy Capital Management LLC increased its holdings in shares of Tiptree by 2.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 24,056 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 565 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Tiptree by 11.2% during the 4th quarter. Deutsche Bank AG now owns 10,393 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 1,049 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Tiptree by 3.1% during the 3rd quarter. Rhumbline Advisers now owns 35,742 shares of the financial services provider’s stock valued at $599,000 after purchasing an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Tiptree by 183.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,704 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Tiptree by 9.1% during the 4th quarter. Alliancebernstein L.P. now owns 14,400 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 1,200 shares in the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

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.