Tiptree Financial (NASDAQ:TIPT) Share Price Breaks Above 200-Day Moving Average – Here’s Why

Tiptree Financial Inc. (NASDAQ:TIPT)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $17.38 and traded as high as $17.64. Tiptree Financial shares last traded at $17.59, with a volume of 383,129 shares traded.

Analyst Ratings Changes

TIPT has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Tiptree Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings cut Tiptree Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Tiptree Financial has an average rating of “Hold”.

Tiptree Financial Stock Up 1.5%

The firm’s 50 day simple moving average is $17.39 and its 200 day simple moving average is $17.38. The company has a market cap of $668.46 million, a price-to-earnings ratio of 1.66 and a beta of 0.71.

Tiptree Financial (NASDAQ:TIPT) last released its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.14 earnings per share for the quarter. The company had revenue of $11.05 million during the quarter.

Tiptree Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, November 16th. Tiptree Financial’s dividend payout ratio is presently 2.22%.

Hedge Funds Weigh In On Tiptree Financial

Several institutional investors have recently bought and sold shares of TIPT. Nisa Investment Advisors LLC grew its holdings in Tiptree Financial by 292.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,235 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,665 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Tiptree Financial in the second quarter valued at approximately $411,000. Squarepoint Ops LLC lifted its stake in Tiptree Financial by 201.7% in the 2nd quarter. Squarepoint Ops LLC now owns 74,053 shares of the financial services provider’s stock worth $1,327,000 after purchasing an additional 49,510 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Tiptree Financial in the 2nd quarter valued at $2,297,000. Finally, Raffles Associates LP purchased a new stake in Tiptree Financial during the second quarter worth about $1,000,000. Hedge funds and other institutional investors own 37.78% of the company’s stock.

About Tiptree Financial

Tiptree Inc (NASDAQ: TIPT) is a diversified holding company focused primarily on insurance and specialty finance. Through its insurance operations, the company provides specialty property and casualty insurance products, warranty and service contract programs, and related risk-management solutions.

Tiptree’s insurance business, operated primarily through Fortegra, serves consumers, businesses, retailers, manufacturers, and other distribution partners. Its offerings include specialty insurance, credit-related protection, motor vehicle products, travel protection, and extended service contracts.