Tiptree Inc (NASDAQ:TIPT) Major Shareholder Michael Gene Barnes Purchases 3,578 Shares

Tiptree Inc (NASDAQ:TIPT) major shareholder Michael Gene Barnes acquired 3,578 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was acquired at an average cost of $5.66 per share, for a total transaction of $20,251.48. Following the acquisition, the insider now owns 8,210,746 shares of the company’s stock, valued at approximately $46,472,822.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Michael Gene Barnes also recently made the following trade(s):

  • On Friday, March 20th, Michael Gene Barnes purchased 1,259 shares of Tiptree stock. The shares were purchased at an average cost of $4.87 per share, for a total transaction of $6,131.33.
  • On Wednesday, March 18th, Michael Gene Barnes purchased 2,518 shares of Tiptree stock. The shares were purchased at an average cost of $4.51 per share, for a total transaction of $11,356.18.
  • On Monday, March 2nd, Michael Gene Barnes purchased 2,948 shares of Tiptree stock. The shares were purchased at an average cost of $6.71 per share, for a total transaction of $19,781.08.
  • On Tuesday, February 25th, Michael Gene Barnes acquired 2,943 shares of Tiptree stock. The shares were bought at an average price of $6.85 per share, for a total transaction of $20,159.55.
  • On Thursday, February 27th, Michael Gene Barnes acquired 24,121 shares of Tiptree stock. The shares were bought at an average price of $6.83 per share, for a total transaction of $164,746.43.
  • On Friday, January 31st, Michael Gene Barnes acquired 3,403 shares of Tiptree stock. The shares were bought at an average price of $6.99 per share, for a total transaction of $23,786.97.

Shares of Tiptree stock traded down $0.25 on Thursday, hitting $5.22. 1,781 shares of the company traded hands, compared to its average volume of 47,114. The stock has a market capitalization of $185.55 million, a P/E ratio of 10.94 and a beta of 0.11. Tiptree Inc has a 52 week low of $4.45 and a 52 week high of $8.30. The business has a 50-day simple moving average of $6.37 and a 200 day simple moving average of $7.26.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 23rd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, March 20th.

Several institutional investors have recently added to or reduced their stakes in TIPT. Russell Investments Group Ltd. bought a new stake in Tiptree in the fourth quarter worth $6,363,000. Boston Partners bought a new stake in Tiptree in the fourth quarter worth $2,182,000. Goldman Sachs Group Inc. increased its position in Tiptree by 25.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 210,602 shares of the financial services provider’s stock valued at $1,714,000 after acquiring an additional 43,361 shares during the last quarter. Hancock Whitney Corp bought a new position in Tiptree during the fourth quarter valued at $175,000. Finally, Mackay Shields LLC increased its position in Tiptree by 58.2% during the fourth quarter. Mackay Shields LLC now owns 57,358 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 21,100 shares during the last quarter. Hedge funds and other institutional investors own 35.44% of the company’s stock.

Several equities research analysts have recently issued reports on TIPT shares. BidaskClub cut shares of Tiptree from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. ValuEngine upgraded shares of Tiptree from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd.

About Tiptree

Tiptree Inc, through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The company provides credit protection insurance, warranty and service contract products, and niche commercial and consumer insurance programs, as well as offers value-add services, including premium finance and business processing services.

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