Tiptree Financial (NASDAQ:TIPT) Stock Price Breaks Above 200-Day Moving Average - Here's Why

Key Points

• Tiptree Financial shares broke above their 200-day moving average, reaching $17.64 and last trading at $17.59 versus the $17.38 average.
• Analyst sentiment remains cautious: Weiss Ratings downgraded the stock to “hold,” Wall Street Zen moved it to “sell,” and the overall consensus is “Hold.”
• The company reported quarterly EPS of $0.14 on $11.05 million in revenue and declared a $0.06 quarterly dividend, equal to a 1.4% annualized yield; institutional investors own 37.78% of the stock.

Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $17.38 and traded as high as $17.64. Tiptree Financial shares last traded at $17.59, with a volume of 383,129 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings lowered Tiptree Financial from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, September 8th. Wall Street Zen lowered shares of Tiptree Financial from a "hold" rating to a "sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

Tiptree Financial Price Performance

The company has a market capitalization of $655.05 million, a PE ratio of 1.63 and a beta of 0.95. The firm's fifty day simple moving average is $17.42 and its 200 day simple moving average is $17.38.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.14 earnings per share for the quarter. The company had revenue of $11.05 million for the quarter.

Tiptree Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 16th will be paid a $0.06 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. Tiptree Financial's dividend payout ratio is presently 2.22%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Tiptree Financial in the 2nd quarter worth approximately $38,881,000. Dimensional Fund Advisors LP increased its holdings in shares of Tiptree Financial by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,149,373 shares of the financial services provider's stock valued at $36,367,000 after purchasing an additional 35,954 shares in the last quarter. Heartland Advisors Inc. purchased a new position in shares of Tiptree Financial during the 2nd quarter valued at approximately $7,168,000. Gabelli Funds LLC lifted its stake in shares of Tiptree Financial by 329.4% in the 1st quarter. Gabelli Funds LLC now owns 314,668 shares of the financial services provider's stock valued at $5,324,000 after purchasing an additional 241,389 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Tiptree Financial by 175.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 273,061 shares of the financial services provider's stock valued at $4,620,000 after purchasing an additional 173,774 shares during the period. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

Tiptree Financial Company Profile

Tiptree Inc NASDAQ: TIPT is a diversified holding company focused primarily on insurance and specialty finance. Through its insurance operations, the company provides specialty property and casualty insurance products, warranty and service contract programs, and related risk-management solutions.

Tiptree's insurance business, operated primarily through Fortegra, serves consumers, businesses, retailers, manufacturers, and other distribution partners. Its offerings include specialty insurance, credit-related protection, motor vehicle products, travel protection, and extended service contracts.

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