Tiptree (NASDAQ:TIPT) Sets New 52-Week High – Still a Buy?

Tiptree Inc. (NASDAQ:TIPT)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $22.92 and last traded at $22.60, with a volume of 8811 shares changing hands. The stock had previously closed at $21.08.

Wall Street Analyst Weigh In

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

Tiptree Trading Up 4.4 %

The business’s fifty day moving average price is $19.67 and its 200-day moving average price is $18.19. The company has a market capitalization of $809.38 million, a P/E ratio of 21.73 and a beta of 1.30.

Tiptree Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, November 18th. Tiptree’s dividend payout ratio (DPR) is currently 24.74%.

Hedge Funds Weigh In On Tiptree

A number of large investors have recently modified their holdings of TIPT. Kennedy Capital Management LLC raised its position in Tiptree by 538.6% in the 1st quarter. Kennedy Capital Management LLC now owns 156,356 shares of the financial services provider’s stock worth $2,702,000 after purchasing an additional 131,871 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Tiptree in the second quarter worth about $671,000. BNP Paribas Financial Markets lifted its stake in shares of Tiptree by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 2,576 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Tiptree by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,154,954 shares of the financial services provider’s stock valued at $19,958,000 after acquiring an additional 17,660 shares during the period. Finally, AQR Capital Management LLC bought a new position in Tiptree during the 2nd quarter worth approximately $859,000. 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.