Tiptree Inc (NASDAQ:TIPT) Chairman Purchases $51,580.98 in Stock

Tiptree Inc (NASDAQ:TIPT) Chairman Michael Gene Barnes purchased 7,887 shares of Tiptree stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $6.54 per share, with a total value of $51,580.98. Following the transaction, the chairman now owns 7,977,783 shares in the company, valued at approximately $52,174,700.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Michael Gene Barnes also recently made the following trade(s):

  • On Friday, August 9th, Michael Gene Barnes purchased 3,648 shares of Tiptree stock. The stock was acquired at an average cost of $6.53 per share, with a total value of $23,821.44.
  • On Monday, August 12th, Michael Gene Barnes purchased 7,118 shares of Tiptree stock. The stock was acquired at an average cost of $6.52 per share, with a total value of $46,409.36.
  • On Wednesday, June 19th, Michael Gene Barnes purchased 3,700 shares of Tiptree stock. The stock was acquired at an average cost of $6.47 per share, with a total value of $23,939.00.
  • On Monday, June 17th, Michael Gene Barnes purchased 11,944 shares of Tiptree stock. The stock was acquired at an average cost of $6.50 per share, with a total value of $77,636.00.
  • On Friday, June 14th, Michael Gene Barnes purchased 11,533 shares of Tiptree stock. The stock was acquired at an average cost of $6.38 per share, with a total value of $73,580.54.
  • On Wednesday, June 12th, Michael Gene Barnes acquired 4,042 shares of Tiptree stock. The shares were purchased at an average cost of $6.25 per share, for a total transaction of $25,262.50.
  • On Monday, June 10th, Michael Gene Barnes acquired 8,117 shares of Tiptree stock. The shares were purchased at an average cost of $6.26 per share, for a total transaction of $50,812.42.
  • On Friday, June 7th, Michael Gene Barnes acquired 6,483 shares of Tiptree stock. The shares were purchased at an average cost of $6.20 per share, for a total transaction of $40,194.60.
  • On Wednesday, June 5th, Michael Gene Barnes acquired 13,826 shares of Tiptree stock. The shares were purchased at an average cost of $6.18 per share, for a total transaction of $85,444.68.
  • On Friday, May 31st, Michael Gene Barnes acquired 10,625 shares of Tiptree stock. The shares were purchased at an average cost of $6.10 per share, for a total transaction of $64,812.50.

TIPT traded up $0.02 during mid-day trading on Thursday, reaching $6.55. 815 shares of the stock were exchanged, compared to its average volume of 17,813. The stock has a market capitalization of $224.59 million, a PE ratio of 40.63 and a beta of -0.02. The business has a 50 day moving average of $6.44. Tiptree Inc has a 1 year low of $5.01 and a 1 year high of $6.99.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 19th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Friday, August 16th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TIPT. BNP Paribas Arbitrage SA raised its stake in shares of Tiptree by 418.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,623 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 4,539 shares during the period. Paloma Partners Management Co bought a new stake in shares of Tiptree during the 2nd quarter worth $63,000. SG Americas Securities LLC bought a new stake in shares of Tiptree during the 1st quarter worth $123,000. Panagora Asset Management Inc. raised its stake in shares of Tiptree by 50.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 30,229 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 10,133 shares during the period. Finally, Prospera Financial Services Inc bought a new stake in shares of Tiptree during the 2nd quarter worth $212,000. Institutional investors own 34.54% of the company’s stock.

Separately, ValuEngine raised shares of Tiptree from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th.

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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