Tiptree Inc. (NASDAQ:TIPT) Sees Significant Drop in Short Interest

Tiptree Inc. (NASDAQ:TIPT) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 193,600 shares, a drop of 21.3% from the March 31st total of 246,000 shares. Based on an average daily trading volume, of 113,000 shares, the short-interest ratio is currently 1.7 days. Approximately 0.9% of the shares of the company are short sold.

Tiptree Price Performance

Shares of NASDAQ:TIPT opened at $15.97 on Friday. The firm has a fifty day moving average price of $16.80 and a two-hundred day moving average price of $17.55. Tiptree has a one year low of $12.12 and a one year high of $20.80. The company has a market cap of $587.07 million, a price-to-earnings ratio of 49.91 and a beta of 1.19.

Tiptree (NASDAQ:TIPT) last announced its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $0.20 EPS for the quarter. Tiptree had a net margin of 0.85% and a return on equity of 11.10%. The firm had revenue of $446.37 million during the quarter.

Tiptree Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.50%. This is an increase from Tiptree’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, March 8th. Tiptree’s dividend payout ratio (DPR) is presently 75.00%.

Insider Buying and Selling

In other Tiptree news, CEO Jonathan Ilany acquired 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average cost of $16.95 per share, with a total value of $49,155.00. Following the acquisition, the chief executive officer now owns 190,471 shares in the company, valued at $3,228,483.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 31.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TIPT. Tower Research Capital LLC TRC raised its position in shares of Tiptree by 272.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider’s stock valued at $40,000 after buying an additional 1,555 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Tiptree during the 3rd quarter valued at $147,000. Hsbc Holdings PLC raised its position in shares of Tiptree by 9.2% during the 3rd quarter. Hsbc Holdings PLC now owns 18,927 shares of the financial services provider’s stock valued at $319,000 after buying an additional 1,595 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Tiptree during the 4th quarter valued at $367,000. Finally, NFC Investments LLC purchased a new stake in shares of Tiptree during the 4th quarter valued at $416,000. 37.78% of the stock is owned by institutional investors.

About Tiptree

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.