Tiptree Inc (NASDAQ:TIPT)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.71 and traded as low as $4.97. Tiptree shares last traded at $4.99, with a volume of 66,759 shares trading hands.
Separately, TheStreet cut shares of Tiptree from a “c” rating to a “d+” rating in a research report on Friday, May 22nd.
The stock’s 50 day moving average price is $5.45 and its 200 day moving average price is $5.71. The company has a market capitalization of $168.15 million, a price-to-earnings ratio of -3.18 and a beta of 0.57.
Tiptree (NASDAQ:TIPT) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.10 earnings per share for the quarter. The firm had revenue of $199.19 million for the quarter. Tiptree had a negative net margin of 7.36% and a negative return on equity of 14.17%.
The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a dividend of $0.04 per share. The ex-dividend date was Friday, August 21st. This represents a $0.16 annualized dividend and a dividend yield of 3.21%.
In other Tiptree news, Chairman Michael Gene Barnes bought 12,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was bought at an average cost of $5.79 per share, with a total value of $69,480.00. Following the completion of the transaction, the chairman now directly owns 8,436,906 shares in the company, valued at approximately $48,849,685.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders acquired 99,353 shares of company stock valued at $563,639. Insiders own 27.04% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. boosted its stake in shares of Tiptree by 119.9% in the 1st quarter. Citigroup Inc. now owns 11,580 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 6,314 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Tiptree during the 2nd quarter valued at $88,000. Alliancebernstein L.P. boosted its position in Tiptree by 9.6% during the 1st quarter. Alliancebernstein L.P. now owns 19,500 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,700 shares during the period. Hancock Whitney Corp boosted its position in Tiptree by 20.4% during the 1st quarter. Hancock Whitney Corp now owns 25,956 shares of the financial services provider’s stock valued at $135,000 after buying an additional 4,397 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Tiptree by 36.6% during the 1st quarter. JPMorgan Chase & Co. now owns 43,465 shares of the financial services provider’s stock valued at $226,000 after buying an additional 11,639 shares during the period. 33.57% of the stock is currently owned by institutional investors.
Tiptree Company Profile (NASDAQ:TIPT)
Tiptree Inc, through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The company provides credit protection insurance, warranty and service contract products, and niche commercial and consumer insurance programs, as well as offers value-add services, including premium finance and business processing services.
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