Tiptree Inc. (NASDAQ:TIPT) Short Interest Down 28.8% in October

Tiptree Inc. (NASDAQ:TIPT) was the target of a significant decrease in short interest in 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. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 66,900 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Ratings Changes

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

Tiptree Stock Performance

Tiptree stock traded up $0.62 during mid-day trading on Friday, reaching $22.25. 148,900 shares of the company were exchanged, compared to its average volume of 91,268. The firm has a market cap of $824.59 million, a PE ratio of 22.94 and a beta of 1.30. The firm’s 50-day simple moving average is $20.07 and its two-hundred day simple moving average is $18.48. Tiptree has a twelve month low of $14.96 and a twelve month high of $22.94.

Tiptree Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, November 18th. This represents a $0.24 annualized dividend and a yield of 1.08%. Tiptree’s dividend payout ratio is currently 24.74%.

Institutional Investors Weigh In On Tiptree

A number of institutional investors have recently added to or reduced their stakes in TIPT. Geode Capital Management LLC raised its position in Tiptree by 1.4% in the third quarter. Geode Capital Management LLC now owns 559,905 shares of the financial services provider’s stock worth $10,959,000 after acquiring an additional 7,974 shares in the last quarter. Barclays PLC lifted its stake in shares of Tiptree by 74.2% in the third quarter. Barclays PLC now owns 72,745 shares of the financial services provider’s stock valued at $1,424,000 after purchasing an additional 30,985 shares during the period. Hodges Capital Management Inc. lifted its stake in shares of Tiptree by 1.2% in the third quarter. Hodges Capital Management Inc. now owns 124,584 shares of the financial services provider’s stock valued at $2,438,000 after purchasing an additional 1,529 shares during the period. State Street Corp boosted its holdings in Tiptree by 1.9% during the third quarter. State Street Corp now owns 494,299 shares of the financial services provider’s stock worth $9,673,000 after buying an additional 9,059 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Tiptree during the third quarter worth about $85,000. Hedge funds and other institutional investors own 37.78% of the company’s stock.

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.