Tiptree Inc. (NASDAQ:TIPT) Short Interest Update

Tiptree Inc. (NASDAQ:TIPT) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 193,700 shares, a decrease of 28.8% from the October 15th total of 272,100 shares. Based on an average daily trading volume, of 66,900 shares, the days-to-cover ratio is presently 2.9 days. Approximately 0.9% of the company’s stock are short sold.

Tiptree Stock Up 2.9 %

TIPT stock traded up $0.62 during trading on Friday, reaching $22.25. The stock had a trading volume of 148,900 shares, compared to its average volume of 91,268. Tiptree has a one year low of $14.96 and a one year high of $22.94. The company’s 50 day moving average is $20.07 and its two-hundred day moving average is $18.48. The company has a market capitalization of $824.59 million, a price-to-earnings ratio of 22.94 and a beta of 1.30.

Tiptree Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, November 18th. Tiptree’s dividend payout ratio is presently 24.74%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Tiptree from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

Institutional Investors Weigh In On Tiptree

A number of hedge funds have recently made changes to their positions in TIPT. Geode Capital Management LLC grew its position in Tiptree by 1.4% during the third quarter. Geode Capital Management LLC now owns 559,905 shares of the financial services provider’s stock valued at $10,959,000 after buying an additional 7,974 shares during the period. Barclays PLC grew its position in shares of Tiptree by 74.2% during the 3rd quarter. Barclays PLC now owns 72,745 shares of the financial services provider’s stock valued at $1,424,000 after acquiring an additional 30,985 shares during the period. Hodges Capital Management Inc. raised its holdings in shares of Tiptree by 1.2% in the 3rd quarter. Hodges Capital Management Inc. now owns 124,584 shares of the financial services provider’s stock worth $2,438,000 after purchasing an additional 1,529 shares during the period. State Street Corp raised its holdings in shares of Tiptree by 1.9% in the 3rd quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock worth $9,673,000 after purchasing an additional 9,059 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Tiptree in the third quarter valued at approximately $85,000. 37.78% of the stock is currently 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.