StockNews.com cut shares of Tiptree (NASDAQ:TIPT – Free Report) from a strong-buy rating to a buy rating in a report published on Tuesday.
Tiptree Stock Performance
Shares of NASDAQ:TIPT opened at $19.56 on Tuesday. Tiptree has a 52-week low of $14.74 and a 52-week high of $20.80. The firm has a market capitalization of $719.51 million, a P/E ratio of 34.32 and a beta of 1.31. The stock has a 50 day moving average price of $18.86 and a 200-day moving average price of $17.49.
Tiptree (NASDAQ:TIPT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share for the quarter. Tiptree had a return on equity of 11.97% and a net margin of 1.62%. The company had revenue of $546.67 million during the quarter.
Tiptree Announces Dividend
Institutional Investors Weigh In On Tiptree
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its stake in Tiptree by 10.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 1,473 shares in the last quarter. Rhumbline Advisers raised its stake in Tiptree by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 38,566 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 1,977 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Tiptree by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 2,576 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Tiptree in the 2nd quarter worth $48,000. Finally, Hsbc Holdings PLC grew its position in Tiptree by 22.0% during the 2nd quarter. Hsbc Holdings PLC now owns 18,563 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 3,342 shares during the period. 37.78% of the stock is currently 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.
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