Tiptree Financial (NASDAQ:TIPT) Reaches New 52-Week High - Should You Buy?

Key Points

• Tiptree Financial's stock reached a new 52-week high, trading at $27.41 before settling at $24.96 with increased trading volume.
• The company recently reported $0.52 earnings per share and announced a quarterly dividend of $0.06, reflecting a yield of 1.2%.
• Wall Street Zen upgraded Tiptree Financial's rating from "hold" to "buy" on August 2nd, indicating positive market sentiment.

Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as $27.41 and last traded at $24.96, with a volume of 185413 shares traded. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

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

Tiptree Financial Trading Down 16.2%

The firm has a market cap of $748.31 million, a PE ratio of 16.13 and a beta of 1.23. The firm's 50 day simple moving average is $22.55 and its 200 day simple moving average is $22.50.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last released its quarterly 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, August 18th. Tiptree Financial's dividend payout ratio is currently 19.05%.

Hedge Funds Weigh In On Tiptree Financial

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new position in Tiptree Financial in the 1st quarter worth about $587,000. Kingsview Wealth Management LLC bought a new position in shares of Tiptree Financial during the first quarter valued at approximately $287,000. Nuveen Asset Management LLC boosted its stake in shares of Tiptree Financial by 6.2% during the fourth quarter. Nuveen Asset Management LLC now owns 207,973 shares of the financial services provider's stock valued at $4,338,000 after purchasing an additional 12,160 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Tiptree Financial during the first quarter valued at approximately $641,000. Finally, Vanguard Group Inc. boosted its stake in shares of Tiptree Financial by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,291,675 shares of the financial services provider's stock valued at $31,116,000 after purchasing an additional 28,373 shares in the last quarter. 37.78% of the stock is currently owned by institutional investors.

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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