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

Tiptree Inc. (NASDAQ:TIPT) saw strong trading volume on Thursday following a dividend announcement from the company. 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 given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Monday, March 10th. Tiptree’s dividend payout ratio is presently 24.74%.

Wall Street Analyst Weigh In

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

Tiptree Price Performance

The firm’s 50-day moving average is $20.25 and its two-hundred day moving average is $20.29. The company has a market cap of $838.58 million, a P/E ratio of 23.33 and a beta of 1.30.

Tiptree (NASDAQ:TIPT) last announced 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 company had revenue of $503.60 million for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Group One Trading LLC increased its position in Tiptree by 192.8% during the fourth quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 3,856 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Tiptree during the fourth quarter valued at $83,000. Aquatic Capital Management LLC bought a new position in Tiptree during the fourth quarter valued at $85,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Tiptree during the third quarter valued at $85,000. Finally, FMR LLC increased its position in Tiptree by 43.1% during the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,339 shares during the last quarter. 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.