Tiptree Financial (NASDAQ:TIPT) Reaches New 12-Month Low - Here's Why

Key Points

• Tiptree Financial's stock recently hit a new 52-week low of $17.85 before closing at $19.05, down 5.6%.
• Wall Street Zen upgraded Tiptree Financial from a "hold" to a "buy" rating on August 2nd, signaling positive outlook despite the recent decline.
• The company announced a quarterly dividend of $0.06 per share, contributing to an annualized dividend yield of 1.3%.

Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report)'s stock price reached a new 52-week low during trading on Saturday . The company traded as low as $17.85 and last traded at $19.05, with a volume of 1802403 shares trading hands. The stock had previously closed at $20.18.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Tiptree Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd.

Tiptree Financial Stock Down 5.6%

The stock's 50-day moving average price is $22.49 and its 200-day moving average price is $22.45. The company has a market capitalization of $714.38 million, a price-to-earnings ratio of 15.12 and a beta of 1.23.

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

Tiptree Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 18th. Tiptree Financial's dividend payout ratio is presently 19.05%.

Hedge Funds Weigh In On Tiptree Financial

Large investors have recently modified their holdings of the stock. AlphaQuest LLC acquired a new position in shares of Tiptree Financial during the second quarter worth approximately $35,000. CWM LLC lifted its holdings in Tiptree Financial by 86.7% in the first quarter. CWM LLC now owns 1,535 shares of the financial services provider's stock valued at $37,000 after buying an additional 713 shares during the period. GAMMA Investing LLC lifted its holdings in Tiptree Financial by 10,791.3% in the first quarter. GAMMA Investing LLC now owns 2,505 shares of the financial services provider's stock valued at $60,000 after buying an additional 2,482 shares during the period. Quantbot Technologies LP acquired a new position in Tiptree Financial in the first quarter valued at approximately $89,000. Finally, Strs Ohio acquired a new position in Tiptree Financial in the first quarter valued at approximately $99,000. 37.78% of the stock is currently owned by institutional investors and hedge funds.

About Tiptree Financial

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.

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