Tiptree Inc (NASDAQ:TIPT) CEO Jonathan Ilany bought 4,600 shares of the stock in a transaction dated Friday, March 16th. The shares were acquired at an average price of $6.23 per share, for a total transaction of $28,658.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of TIPT opened at $6.25 on Monday. Tiptree Inc has a 12-month low of $5.35 and a 12-month high of $7.50.
Tiptree (NASDAQ:TIPT) last announced its earnings results on Wednesday, March 14th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $151.43 million for the quarter. Tiptree had a negative return on equity of 2.92% and a net margin of 0.57%.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Monday, March 26th were given a dividend of $0.03 per share. The ex-dividend date was Friday, March 23rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.92%.
Tiptree declared that its Board of Directors has initiated a share repurchase program on Monday, March 19th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in TIPT. Northern Trust Corp grew its position in shares of Tiptree by 2.2% during the second quarter. Northern Trust Corp now owns 253,438 shares of the financial services provider’s stock worth $1,787,000 after acquiring an additional 5,503 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tiptree by 1.1% during the second quarter. Vanguard Group Inc. now owns 972,899 shares of the financial services provider’s stock worth $6,859,000 after purchasing an additional 11,059 shares during the period. State Street Corp lifted its holdings in shares of Tiptree by 5.7% during the second quarter. State Street Corp now owns 397,363 shares of the financial services provider’s stock worth $2,801,000 after purchasing an additional 21,556 shares during the period. TCW Group Inc. lifted its holdings in shares of Tiptree by 25.9% during the third quarter. TCW Group Inc. now owns 839,419 shares of the financial services provider’s stock worth $5,246,000 after purchasing an additional 172,501 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Tiptree by 67.6% during the third quarter. Wells Fargo & Company MN now owns 25,044 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 10,100 shares during the period. Institutional investors and hedge funds own 54.16% of the company’s stock.
Separately, BidaskClub upgraded shares of Tiptree from a “sell” rating to a “hold” rating in a research report on Monday, March 26th.
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Tiptree Company Profile
Tiptree Inc, formerly Tiptree Financial Inc, is a diversified holding company that acquires and manages controlling interests of operating businesses. The Company conducts its operations through Tiptree Operating Company, LLC (the Operating Company). It operates through four segments: specialty insurance, asset management, senior living and specialty finance.
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