Tiptree (NASDAQ:TIPT) Sees Large Volume Increase After Dividend Announcement

Tiptree Inc. (NASDAQ:TIPT) saw an uptick in trading volume on Thursday following a dividend announcement from the company. 207,752 shares traded hands during mid-day trading, an increase of 135% from the previous session’s volume of 88,323 shares.The stock last traded at $23.02 and had previously closed at $21.90.

The newly announced dividend which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, March 10th. Tiptree’s dividend payout ratio (DPR) is 24.74%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Tiptree from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

Tiptree Trading Down 4.0 %

The business has a 50 day simple moving average of $20.25 and a two-hundred day simple moving average of $20.29. The stock has a market cap of $817.57 million, a price-to-earnings ratio of 22.41 and a beta of 1.30.

Tiptree (NASDAQ:TIPT) last announced its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of $503.60 million for the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%.

Institutional Trading of Tiptree

Hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted 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 raised its stake in Tiptree by 43.1% during the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,339 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Tiptree by 166.1% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. raised its stake in Tiptree by 55.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 79,202 shares of the financial services provider’s stock valued at $1,550,000 after acquiring an additional 28,400 shares in the last quarter. Finally, State Street Corp raised its stake in Tiptree by 1.9% during the 3rd quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock valued at $9,673,000 after acquiring an additional 9,059 shares in the last quarter. Institutional investors own 37.78% of the company’s stock.

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.