Shares of Tiptree Financial Inc. (NASDAQ:TIPT – Get Free Report) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $17.47 and traded as low as $16.77. Tiptree Financial shares last traded at $16.98, with a volume of 454,523 shares traded.
Wall Street Analyst Weigh In
TIPT has been the topic of a number of analyst reports. Wall Street Zen upgraded Tiptree Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded Tiptree Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Tiptree Financial presently has a consensus rating of “Hold”.
Get Our Latest Stock Analysis on TIPT
Tiptree Financial Trading Up 1.0%
Tiptree Financial (NASDAQ:TIPT – Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $10.30 earnings per share for the quarter. Tiptree Financial had a net margin of 2.36% and a return on equity of 0.75%. The firm had revenue of $3.92 million during the quarter.
Tiptree Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 17th. Tiptree Financial’s payout ratio is currently 2.22%.
Institutional Trading of Tiptree Financial
A number of hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd acquired a new position in Tiptree Financial in the 2nd quarter valued at $411,000. Squarepoint Ops LLC grew its position in shares of Tiptree Financial by 201.7% in the second quarter. Squarepoint Ops LLC now owns 74,053 shares of the financial services provider’s stock valued at $1,327,000 after purchasing an additional 49,510 shares during the period. Empowered Funds LLC acquired a new position in Tiptree Financial in the second quarter valued at $2,297,000. Raffles Associates LP purchased a new position in Tiptree Financial during the second quarter worth about $1,000,000. Finally, Bank of America Corp DE purchased a new position in Tiptree Financial during the second quarter worth about $854,000. Institutional investors and hedge funds own 37.78% of the company’s stock.
Tiptree Financial Company Profile
Tiptree Inc, formerly known as Tiptree Financial, is a diversified holding company that operates businesses in insurance and specialty finance. The company focuses on building and managing operating businesses rather than providing a single product or service under the Tiptree name.
Its principal business is Fortegra, a specialty insurance company that develops, underwrites and administers insurance products in areas such as warranty and service contracts, specialty property and casualty coverage, credit-related insurance and other niche markets.
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