Short Interest in Tiptree Inc. (NASDAQ:TIPT) Declines By 21.3%

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

Insiders Place Their Bets

In related news, CEO Jonathan Ilany bought 2,900 shares of the stock in a transaction dated Tuesday, March 5th. The stock was purchased at an average cost of $16.95 per share, with a total value of $49,155.00. Following the completion of the purchase, 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 legal filing with the SEC, which is available at this link. Insiders own 31.78% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TIPT. Breach Inlet Capital Management LLC bought a new stake in Tiptree during the 4th quarter valued at $14,894,000. Tower Research Capital LLC TRC grew its stake in shares of Tiptree by 272.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider's stock worth $40,000 after acquiring an additional 1,555 shares during the last quarter. Cove Street Capital LLC increased its holdings in shares of 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 acquiring an additional 41,277 shares in the last quarter. NFC Investments LLC acquired a new position in shares of Tiptree during the fourth quarter valued at about $416,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Tiptree in the 4th quarter valued at approximately $367,000. 37.78% of the stock is currently owned by institutional investors.

Tiptree Trading Up 0.6 %

Shares of NASDAQ TIPT traded up $0.10 during trading hours on Friday, reaching $15.97. The stock had a trading volume of 51,328 shares, compared to its average volume of 82,394. Tiptree has a 52-week low of $12.12 and a 52-week high of $20.80. The firm has a market cap of $587.07 million, a price-to-earnings ratio of 49.91 and a beta of 1.19. The business's fifty day moving average price is $16.80 and its two-hundred day moving average price is $17.55.

Tiptree (NASDAQ:TIPT - Get Free Report) last issued its earnings results on Wednesday, February 28th. The financial services provider reported $0.20 earnings per share for the quarter. Tiptree had a return on equity of 11.10% and a net margin of 0.85%. The business had revenue of $446.37 million during the quarter.

Tiptree Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 11th were issued a $0.06 dividend. This is an increase from Tiptree's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.50%. 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.