Tiptree (NASDAQ:TIPT) Lowered to “Buy” at StockNews.com

Tiptree (NASDAQ:TIPT) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Tiptree Trading Up 0.1 %

Shares of NASDAQ TIPT opened at $19.96 on Tuesday. The firm has a fifty day simple moving average of $18.76 and a two-hundred day simple moving average of $17.45. Tiptree has a 12 month low of $14.74 and a 12 month high of $20.80. The firm has a market capitalization of $734.23 million, a PE ratio of 35.02 and a beta of 1.31.

Tiptree (NASDAQ:TIPT) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter. Tiptree had a net margin of 1.62% and a return on equity of 11.97%. The company had revenue of $546.67 million for the quarter.

Institutional Investors Weigh In On Tiptree

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Tiptree by 10.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider’s stock valued at $281,000 after buying an additional 1,473 shares in the last quarter. Rhumbline Advisers boosted its stake in Tiptree by 5.4% during the second quarter. Rhumbline Advisers now owns 38,566 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 1,977 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Tiptree by 25.6% during the first quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 2,576 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Tiptree in the second quarter worth about $48,000. Finally, Hsbc Holdings PLC increased its stake in shares of Tiptree by 22.0% during the second quarter. Hsbc Holdings PLC now owns 18,563 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 3,342 shares in the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

Tiptree Company Profile

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.