Tiptree Financial (NASDAQ:TIPT) Trading Down 11.3% - Here's What Happened

Shares of Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report) dropped 11.3% on Tuesday . The company traded as low as $21.01 and last traded at $21.01. Approximately 247,770 shares were traded during trading, an increase of 122% from the average daily volume of 111,647 shares. The stock had previously closed at $23.69.

Analyst Upgrades and Downgrades

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

Tiptree Financial Price Performance

The business has a 50 day simple moving average of $22.45 and a 200 day simple moving average of $21.79. The company has a market cap of $785.97 million, a price-to-earnings ratio of 17.47 and a beta of 1.14.

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 (EPS) for the quarter. Tiptree Financial had a return on equity of 13.87% and a net margin of 2.45%. The business had revenue of $497.43 million during the quarter.

Tiptree Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 12th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.14%. Tiptree Financial's dividend payout ratio (DPR) is 20.00%.

Institutional Trading of Tiptree Financial

Several hedge funds have recently modified their holdings of the stock. Nuveen LLC purchased a new stake in shares of Tiptree Financial during the 1st quarter valued at $5,346,000. Invesco Ltd. increased its stake in Tiptree Financial by 395.9% in the 4th quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider's stock worth $5,456,000 after purchasing an additional 208,814 shares during the period. Kennedy Capital Management LLC raised its holdings in shares of Tiptree Financial by 55.2% during the fourth quarter. Kennedy Capital Management LLC now owns 273,014 shares of the financial services provider's stock valued at $5,695,000 after acquiring an additional 97,078 shares in the last quarter. Breach Inlet Capital Management LLC boosted its position in shares of Tiptree Financial by 10.9% during the first quarter. Breach Inlet Capital Management LLC now owns 788,909 shares of the financial services provider's stock valued at $19,005,000 after purchasing an additional 77,373 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Tiptree Financial by 15.0% in the 4th quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider's stock worth $10,936,000 after purchasing an additional 68,338 shares in the last quarter. 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.