Tiptree Financial (NASDAQ:TIPT) Share Price Crosses Below 200-Day Moving Average - Here's Why

Key Points

• Tiptree Financial shares fell below their 200-day moving average of $17.45, trading as low as $17.40 before closing at $17.53.
• Analyst sentiment remains neutral: the stock has a consensus “Hold” rating, with Wall Street Zen upgrading it from “Sell” to “Hold” and Weiss Ratings slightly downgrading its “Hold” assessment.
• Tiptree reported $10.30 in quarterly earnings per share and maintains a quarterly dividend of $0.06, equivalent to a 1.4% annual yield. Institutional investors own approximately 37.78% of the company.

Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report)'s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.45 and traded as low as $17.40. Tiptree Financial shares last traded at $17.53, with a volume of 198,778 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen raised Tiptree Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings downgraded Tiptree Financial from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Tiptree Financial Price Performance

The business's 50 day simple moving average is $18.03 and its 200 day simple moving average is $17.45. The company has a market capitalization of $652.82 million, a price-to-earnings ratio of 1.62 and a beta of 0.93.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $10.30 earnings per share for the quarter. Tiptree Financial had a net margin of 2.36% and a return on equity of 0.75%. The business had revenue of $3.92 million during the quarter.

Tiptree Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.24 annualized dividend and a yield of 1.4%. Tiptree Financial's dividend payout ratio is currently 2.22%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd acquired a new position in shares of Tiptree Financial in the second quarter valued at approximately $411,000. Squarepoint Ops LLC lifted its holdings in shares of Tiptree Financial by 201.7% during the second quarter. Squarepoint Ops LLC now owns 74,053 shares of the financial services provider's stock worth $1,327,000 after purchasing an additional 49,510 shares during the period. Empowered Funds LLC acquired a new stake in shares of Tiptree Financial during the second quarter worth $2,297,000. Raffles Associates LP acquired a new stake in shares of Tiptree Financial during the second quarter worth $1,000,000. Finally, Bank of America Corp DE purchased a new position in Tiptree Financial in the 2nd quarter valued at $854,000. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

Tiptree Financial Company Profile

Tiptree Inc, formerly known as Tiptree Financial, is a diversified holding company that operates businesses in insurance and specialty finance. The company focuses on building and managing operating businesses rather than providing a single product or service under the Tiptree name.

Its principal business is Fortegra, a specialty insurance company that develops, underwrites and administers insurance products in areas such as warranty and service contracts, specialty property and casualty coverage, credit-related insurance and other niche markets.

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