Tiptree Financial (NASDAQ:TIPT) Stock Passes Above 50-Day Moving Average - Should You Sell?

Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $22.48 and traded as high as $24.30. Tiptree Financial shares last traded at $23.69, with a volume of 117,829 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Tiptree Financial from a "buy" rating to a "hold" rating in a research report on Monday, May 5th.

Tiptree Financial Trading Down 1.1%

The stock has a market cap of $888.30 million, a PE ratio of 19.74 and a beta of 1.14. The firm's 50-day moving average price is $22.48 and its two-hundred day moving average price is $21.79.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.49 earnings per share for the quarter. Tiptree Financial had a return on equity of 13.87% and a net margin of 2.45%. The firm had revenue of $497.43 million during the quarter.

Tiptree Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 12th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Monday, May 12th. Tiptree Financial's dividend payout ratio is presently 20.00%.

Hedge Funds Weigh In On Tiptree Financial

Several institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC lifted its holdings in Tiptree Financial by 28.4% during the first quarter. Voya Investment Management LLC now owns 27,981 shares of the financial services provider's stock valued at $674,000 after purchasing an additional 6,186 shares in the last quarter. Strs Ohio acquired a new position in shares of Tiptree Financial during the 1st quarter worth about $99,000. Empowered Funds LLC raised its position in shares of Tiptree Financial by 1.9% during the 1st quarter. Empowered Funds LLC now owns 120,640 shares of the financial services provider's stock worth $2,906,000 after purchasing an additional 2,227 shares during the last quarter. Voleon Capital Management LP lifted its stake in Tiptree Financial by 12.7% in the 1st quarter. Voleon Capital Management LP now owns 23,521 shares of the financial services provider's stock valued at $567,000 after buying an additional 2,650 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Tiptree Financial by 43.3% in the 1st quarter. Millennium Management LLC now owns 167,964 shares of the financial services provider's stock worth $4,046,000 after buying an additional 50,738 shares during the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

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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