Short Interest in Tiptree Inc. (NASDAQ:TIPT) Declines By 25.6%

Tiptree Inc. (NASDAQ:TIPT) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 158,000 shares, a decline of 25.6% from the March 15th total of 212,400 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 146,900 shares, the days-to-cover ratio is presently 1.1 days.

Tiptree Stock Down 0.9 %

NASDAQ TIPT opened at $22.51 on Friday. The firm has a market cap of $838.70 million, a PE ratio of 23.21 and a beta of 1.19. Tiptree has a 52 week low of $15.54 and a 52 week high of $26.90. The company has a 50 day moving average price of $22.20 and a 200 day moving average price of $21.22.

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

Tiptree Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree’s dividend payout ratio is currently 18.60%.

Hedge Funds Weigh In On Tiptree

Institutional investors and hedge funds have recently modified their holdings of the stock. Group One Trading LLC grew its stake in shares of Tiptree by 192.8% during the 4th quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 3,856 shares during the period. GAMMA Investing LLC grew its position in shares of Tiptree by 10,791.3% during the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 2,482 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Tiptree in the 4th quarter valued at about $83,000. Aquatic Capital Management LLC purchased a new position in Tiptree during the fourth quarter worth approximately $85,000. Finally, FMR LLC grew its holdings in Tiptree by 43.1% in the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,339 shares during the period. 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.