Tiptree (NASDAQ:TIPT) Lifted to “Strong-Buy” at BidaskClub

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BidaskClub upgraded shares of Tiptree (NASDAQ:TIPT) from a buy rating to a strong-buy rating in a report released on Thursday, September 19th, BidAskClub reports.

Separately, ValuEngine lowered Tiptree from a buy rating to a hold rating in a research report on Tuesday, September 10th.

Shares of NASDAQ TIPT traded down $0.13 during midday trading on Thursday, reaching $7.21. 20,146 shares of the company’s stock were exchanged, compared to its average volume of 35,355. Tiptree has a 52-week low of $5.01 and a 52-week high of $7.80. The stock has a market capitalization of $254.99 million, a PE ratio of 46.13 and a beta of 0.02. The business’s fifty day moving average price is $7.12 and its two-hundred day moving average price is $6.49.

Tiptree (NASDAQ:TIPT) last announced its earnings results on Monday, August 5th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. Tiptree had a return on equity of 1.49% and a net margin of 2.17%. The business had revenue of $191.07 million for the quarter.

In other Tiptree news, insider Michael Gene Barnes bought 7,118 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $6.52 per share, with a total value of $46,409.36. Following the completion of the transaction, the insider now owns 7,974,218 shares in the company, valued at $51,991,901.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have bought 94,171 shares of company stock worth $629,548. Corporate insiders own 25.56% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its holdings in Tiptree by 5.2% in the second quarter. Wells Fargo & Company MN now owns 43,677 shares of the financial services provider’s stock valued at $275,000 after buying an additional 2,175 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Tiptree by 418.7% in the first quarter. BNP Paribas Arbitrage SA now owns 5,623 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 4,539 shares during the period. BlackRock Inc. boosted its stake in Tiptree by 0.4% in the second quarter. BlackRock Inc. now owns 1,455,498 shares of the financial services provider’s stock valued at $9,169,000 after acquiring an additional 6,289 shares during the period. Northern Trust Corp boosted its stake in Tiptree by 2.9% in the second quarter. Northern Trust Corp now owns 279,563 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 7,887 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. acquired a new position in Tiptree in the second quarter valued at approximately $50,000. 34.14% of the stock is owned by hedge funds and other institutional investors.

About Tiptree

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.

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