Tiptree Inc. (NASDAQ:TIPT – Get Free Report) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totalling 124,800 shares, a drop of 33.5% from the December 15th total of 187,700 shares. Based on an average trading volume of 80,700 shares, the short-interest ratio is presently 1.5 days. Currently, 0.6% of the company’s stock are short sold.
Tiptree Stock Performance
NASDAQ:TIPT opened at $19.30 on Tuesday. The company has a market capitalization of $715.18 million, a P/E ratio of 19.90 and a beta of 1.32. The stock’s 50 day moving average price is $21.32 and its 200 day moving average price is $19.71. Tiptree has a 52 week low of $14.96 and a 52 week high of $24.09.
Tiptree Announces Dividend
The company also recently declared a special dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, December 11th. Tiptree’s dividend payout ratio is 24.74%.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on Tiptree
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of Tiptree by 74.2% in the 3rd quarter. Barclays PLC now owns 72,745 shares of the financial services provider’s stock worth $1,424,000 after purchasing an additional 30,985 shares during the last quarter. FMR LLC increased its holdings in shares of Tiptree by 43.1% during the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,339 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Tiptree by 166.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 183,552 shares of the financial services provider’s stock valued at $3,592,000 after acquiring an additional 114,568 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Tiptree in the 2nd quarter worth approximately $671,000. Finally, State Street Corp grew its position in Tiptree by 1.9% during the 3rd quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock worth $9,673,000 after acquiring an additional 9,059 shares during the last quarter. 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.
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