Tiptree (NASDAQ:TIPT) Sees Strong Trading Volume After Dividend Announcement

Shares of Tiptree Inc. (NASDAQ:TIPT) saw strong trading volume on Thursday after the company announced a dividend. 207,752 shares were traded 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 $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.06%. 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 shares of Tiptree from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

Tiptree Stock Down 1.6 %

The company has a market cap of $838.58 million, a PE ratio of 23.33 and a beta of 1.30. The business’s fifty day moving average is $20.25 and its 200-day moving average is $20.29.

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

Hedge Funds Weigh In On Tiptree

Several large investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP lifted its holdings in Tiptree by 3.7% during the fourth quarter. Two Sigma Investments LP now owns 70,429 shares of the financial services provider’s stock valued at $1,469,000 after purchasing an additional 2,517 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Tiptree by 6.2% during the fourth quarter. Nuveen Asset Management LLC now owns 207,973 shares of the financial services provider’s stock valued at $4,338,000 after purchasing an additional 12,160 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Tiptree by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,431 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 608 shares in the last quarter. Group One Trading LLC lifted its holdings in shares of Tiptree by 192.8% in the fourth quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider’s stock worth $39,000 after buying an additional 3,856 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Tiptree by 57.0% in the fourth quarter. Deutsche Bank AG now owns 26,704 shares of the financial services provider’s stock worth $557,000 after buying an additional 9,691 shares in the last quarter. Hedge funds and other institutional investors 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.