Short Interest in Tiptree Financial Inc. (NASDAQ:TIPT) Decreases By 19.3%

Key Points

• Tiptree Financial Inc. experienced a 19.3% decline in short interest for August, with 176,600 shares short as of August 31st.
• Several hedge funds increased their positions in Tiptree Financial, with Vanguard Group leading by boosting its stake by 2.2% to over 1.29 million shares.
• The company announced a quarterly dividend of $0.06 per share, representing an annualized yield of 1.0% and a payout ratio of 19.05%.

Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 176,600 shares, a decline of 19.3% from the August 15th total of 218,700 shares. Based on an average daily trading volume, of 167,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.8% of the company's shares are short sold. Approximately 0.8% of the company's shares are short sold. Based on an average daily trading volume, of 167,000 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Investors Weigh In On Tiptree Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Tiptree Financial by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,291,675 shares of the financial services provider's stock valued at $31,116,000 after buying an additional 28,373 shares during the last quarter. Breach Inlet Capital Management LLC raised its position in Tiptree Financial by 10.9% in the 1st quarter. Breach Inlet Capital Management LLC now owns 788,909 shares of the financial services provider's stock valued at $19,005,000 after buying an additional 77,373 shares during the last quarter. Geode Capital Management LLC raised its position in Tiptree Financial by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 581,461 shares of the financial services provider's stock valued at $13,713,000 after buying an additional 8,174 shares during the last quarter. Kennedy Capital Management LLC raised its position in Tiptree Financial by 15.0% in the 2nd quarter. Kennedy Capital Management LLC now owns 503,923 shares of the financial services provider's stock valued at $11,883,000 after buying an additional 65,607 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Tiptree Financial by 9.6% during the 4th quarter. Northern Trust Corp now owns 226,469 shares of the financial services provider's stock valued at $4,724,000 after purchasing an additional 19,773 shares during the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Tiptree Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd.

Tiptree Financial Price Performance

Shares of NASDAQ:TIPT traded up $0.31 during trading on Monday, reaching $23.90. 219,824 shares of the stock were exchanged, compared to its average volume of 154,996. Tiptree Financial has a 1-year low of $18.25 and a 1-year high of $26.90. The stock has a fifty day moving average of $22.42 and a two-hundred day moving average of $22.47. The firm has a market cap of $896.25 million, a price-to-earnings ratio of 18.97 and a beta of 1.23.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $0.52 earnings per share for the quarter. The company had revenue of $528.75 million for the quarter. Tiptree Financial had a return on equity of 13.90% and a net margin of 2.77%.

Tiptree Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, August 18th. Tiptree Financial's dividend payout ratio is presently 19.05%.

Tiptree Financial 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.