Tiptree (NASDAQ:TIPT) Sees Strong Trading Volume – Here’s What Happened

Shares of Tiptree Inc. (NASDAQ:TIPT) saw an uptick in trading volume on Tuesday . 154,110 shares traded hands during mid-day trading, an increase of 52% from the previous session’s volume of 101,278 shares.The stock last traded at $22.20 and had previously closed at $21.75.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Tiptree from a “buy” rating to a “hold” rating in a research note on Monday, May 5th.

Tiptree Price Performance

The company has a fifty day moving average price of $22.25 and a 200 day moving average price of $21.53. The stock has a market cap of $831.50 million, a P/E ratio of 22.88 and a beta of 1.16.

Tiptree (NASDAQ:TIPT) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.49 EPS for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%. The business had revenue of $497.43 million during the quarter.

Tiptree Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.08%. Tiptree’s dividend payout ratio is presently 20.00%.

Hedge Funds Weigh In On Tiptree

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its stake in shares of Tiptree by 86.7% in the first quarter. CWM LLC now owns 1,535 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 713 shares during the last quarter. Group One Trading LLC lifted its stake in Tiptree by 192.8% during the 4th quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 3,856 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 in the last quarter. Quantbot Technologies LP purchased a new position in Tiptree during the 1st quarter worth $89,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Tiptree during the 4th quarter worth $83,000. 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.