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

Tiptree Inc. (NASDAQ:TIPT) saw unusually-strong trading volume on Thursday following a dividend announcement from the company. Approximately 207,752 shares changed hands during 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. Investors of record on Monday, March 10th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Monday, March 10th. Tiptree’s payout ratio is 24.74%.

Wall Street Analysts Forecast Growth

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

Tiptree Stock Up 5.0 %

The stock has a market cap of $851.92 million, a PE ratio of 23.70 and a beta of 1.30. The company has a fifty day moving average price of $20.20 and a 200 day moving average price of $20.27.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings data on Wednesday, February 26th. The financial services provider reported $0.67 earnings per share 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.

Institutional Trading of Tiptree

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Tiptree by 1.4% in the third quarter. Geode Capital Management LLC now owns 559,905 shares of the financial services provider’s stock valued at $10,959,000 after purchasing an additional 7,974 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Tiptree by 15.0% during the fourth quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider’s stock worth $10,936,000 after buying an additional 68,338 shares in the last quarter. State Street Corp grew its position in Tiptree by 1.9% during the third 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 during the period. Kennedy Capital Management LLC boosted its position in shares of Tiptree by 55.2% in the fourth quarter. Kennedy Capital Management LLC now owns 273,014 shares of the financial services provider’s stock worth $5,695,000 after buying an additional 97,078 shares during the period. Finally, Invesco Ltd. grew its position in shares of Tiptree by 395.9% during the fourth quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider’s stock worth $5,456,000 after buying an additional 208,814 shares in the last quarter. Institutional investors and hedge funds 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.