Tiptree (NASDAQ:TIPT) Releases Quarterly Earnings Results

Tiptree (NASDAQ:TIPT) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, Zacks reports. Tiptree had a net margin of 0.85% and a return on equity of 11.10%. The company had revenue of $498.22 million during the quarter.

Tiptree Stock Performance

Tiptree stock traded up $0.17 during mid-day trading on Thursday, reaching $16.29. The company’s stock had a trading volume of 84,155 shares, compared to its average volume of 113,972. Tiptree has a 12-month low of $12.12 and a 12-month high of $20.80. The company has a market capitalization of $598.82 million, a P/E ratio of 50.44 and a beta of 1.23. The firm’s fifty day moving average price is $16.75 and its two-hundred day moving average price is $17.56.

Tiptree Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.47%. This is a positive change from Tiptree’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, March 8th. Tiptree’s payout ratio is currently 75.00%.

Insider Activity at Tiptree

In other Tiptree news, CEO Jonathan Ilany acquired 2,900 shares of Tiptree stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $49,155.00. Following the purchase, the chief executive officer now owns 190,471 shares of the company’s stock, valued at $3,228,483.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.78% of the stock is owned by company insiders.

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.