Tiptree Inc. (NASDAQ:TIPT) Sees Significant Drop in Short Interest

Tiptree Inc. (NASDAQ:TIPT) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 193,600 shares, a decline of 21.3% from the March 31st total of 246,000 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 113,000 shares, the short-interest ratio is presently 1.7 days.

Insiders Place Their Bets

In other news, CEO Jonathan Ilany bought 2,900 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average cost of $16.95 per share, with a total value of $49,155.00. Following the completion of the acquisition, the chief executive officer now owns 190,471 shares of the company’s stock, valued at $3,228,483.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 31.78% of the company’s stock.

Institutional Trading of Tiptree

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TIPT. Breach Inlet Capital Management LLC purchased a new stake in Tiptree during the fourth quarter valued at approximately $14,894,000. Cannell Capital LLC increased its holdings in Tiptree by 17.2% during the third quarter. Cannell Capital LLC now owns 884,084 shares of the financial services provider’s stock valued at $14,817,000 after buying an additional 129,529 shares during the last quarter. EAM Investors LLC purchased a new stake in Tiptree during the third quarter valued at approximately $815,000. Cove Street Capital LLC increased its holdings in Tiptree by 11.6% during the fourth quarter. Cove Street Capital LLC now owns 395,635 shares of the financial services provider’s stock valued at $7,501,000 after buying an additional 41,277 shares during the last quarter. Finally, First Dallas Securities Inc. purchased a new stake in Tiptree during the third quarter valued at approximately $452,000. 37.78% of the stock is owned by hedge funds and other institutional investors.

Tiptree Stock Up 0.6 %

TIPT opened at $15.97 on Friday. The firm has a 50 day moving average price of $16.80 and a 200-day moving average price of $17.55. Tiptree has a twelve month low of $12.12 and a twelve month high of $20.80. The stock has a market capitalization of $587.07 million, a price-to-earnings ratio of 49.91 and a beta of 1.19.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $0.20 earnings per share for the quarter. Tiptree had a net margin of 0.85% and a return on equity of 11.10%. The firm had revenue of $446.37 million during the quarter.

Tiptree Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.50%. This is a boost from Tiptree’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, March 8th. Tiptree’s payout ratio is presently 75.00%.

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.