Tiptree Inc. (NASDAQ:TIPT) Short Interest Up 39.7% in March

Tiptree Inc. (NASDAQ:TIPT) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 212,400 shares, a growth of 39.7% from the February 28th total of 152,000 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 122,500 shares, the short-interest ratio is presently 1.7 days.

Tiptree Price Performance

NASDAQ:TIPT opened at $23.89 on Tuesday. Tiptree has a 1-year low of $15.52 and a 1-year high of $26.90. The firm has a market capitalization of $890.12 million, a P/E ratio of 24.64 and a beta of 1.31. The company’s fifty day moving average price is $21.56 and its 200-day moving average price is $20.95.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $0.67 EPS for the quarter. The company had revenue of $503.60 million for the quarter. Tiptree had a net margin of 2.05% and a return on equity of 11.50%.

Tiptree Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Monday, March 10th. Tiptree’s dividend payout ratio is presently 18.60%.

Institutional Trading of Tiptree

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew 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 during the period. Royce & Associates LP grew its stake in shares of Tiptree by 15.0% in the fourth quarter. Royce & Associates LP now owns 524,247 shares of the financial services provider’s stock valued at $10,936,000 after buying an additional 68,338 shares in the last quarter. 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 valued at $9,673,000 after buying an additional 9,059 shares during the period. Kennedy Capital Management LLC grew its position in Tiptree by 55.2% in the 4th quarter. Kennedy Capital Management LLC now owns 273,014 shares of the financial services provider’s stock valued at $5,695,000 after acquiring an additional 97,078 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Tiptree by 395.9% during the fourth quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider’s stock worth $5,456,000 after purchasing an additional 208,814 shares in the last quarter. 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.