Tiptree Financial (NASDAQ:TIPT) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Tiptree Financial experienced a significant trading volume surge, with 400,053 shares traded, marking a 146% increase from the previous day's volume.
• The company's stock rating was upgraded from "hold" to "buy" by Wall Street Zen, indicating positive market sentiment following its latest quarterly earnings report.
• Tiptree Financial announced a quarterly dividend of $0.06 per share, resulting in an annualized yield of 1.3% and a payout ratio of 19.05%.

Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report) shares saw strong trading volume on Friday . 400,053 shares changed hands during mid-day trading, an increase of 146% from the previous session's volume of 162,623 shares.The stock last traded at $18.59 and had previously closed at $20.18.

Analysts Set New Price Targets

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 Stock Performance

The company has a market cap of $710.06 million, a price-to-earnings ratio of 14.98 and a beta of 1.23. The business has a 50-day simple moving average of $22.54 and a 200-day simple moving average of $22.48.

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

Tiptree Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 18th. Tiptree Financial's dividend payout ratio is 19.05%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in Tiptree Financial during the 2nd quarter worth approximately $35,000. CWM LLC grew its stake in shares of Tiptree Financial by 86.7% in the 1st quarter. CWM LLC now owns 1,535 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 713 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Tiptree Financial by 10,791.3% in the 1st quarter. GAMMA Investing LLC now owns 2,505 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 2,482 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Tiptree Financial in the 1st quarter valued at approximately $89,000. Finally, Strs Ohio purchased a new position in shares of Tiptree Financial in the 1st quarter valued at approximately $99,000. Hedge funds and other institutional investors own 37.78% of the company's stock.

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.

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