Separately, ValuEngine lowered shares of Tiptree from a buy rating to a hold rating in a research note on Tuesday, September 10th.
TIPT stock traded down $0.13 during midday trading on Thursday, hitting $7.21. The company’s stock had a trading volume of 20,146 shares, compared to its average volume of 35,355. The stock has a market capitalization of $254.99 million, a P/E ratio of 46.13 and a beta of 0.02. The company’s fifty day moving average price is $7.12 and its 200 day moving average price is $6.49. Tiptree has a twelve month low of $5.01 and a twelve month high of $7.80.
Tiptree (NASDAQ:TIPT) last released its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.32 earnings per share for the quarter. The company had revenue of $191.07 million for the quarter. Tiptree had a net margin of 2.17% and a return on equity of 1.49%.
In other news, major shareholder Michael Gene Barnes acquired 6,000 shares of the stock in a transaction dated Friday, August 30th. The shares were bought at an average cost of $6.86 per share, for a total transaction of $41,160.00. Following the purchase, the insider now directly owns 8,055,990 shares of the company’s stock, valued at $55,264,091.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 94,171 shares of company stock worth $629,548 over the last 90 days. 25.56% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of Tiptree by 5.2% during the 2nd quarter. Wells Fargo & Company MN now owns 43,677 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 2,175 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Tiptree by 418.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,623 shares of the financial services provider’s stock valued at $36,000 after buying an additional 4,539 shares during the last quarter. BlackRock Inc. grew its stake in Tiptree by 0.4% in the 2nd quarter. BlackRock Inc. now owns 1,455,498 shares of the financial services provider’s stock valued at $9,169,000 after buying an additional 6,289 shares during the last quarter. Northern Trust Corp grew its stake in Tiptree by 2.9% in the 2nd quarter. Northern Trust Corp now owns 279,563 shares of the financial services provider’s stock valued at $1,761,000 after buying an additional 7,887 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. acquired a new position in Tiptree in the 2nd quarter valued at about $50,000. Institutional investors own 34.14% of the company’s stock.
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.
See Also: What is the Coverage Ratio?
Receive News & Ratings for Tiptree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tiptree and related companies with MarketBeat.com's FREE daily email newsletter.