Tiptree (NASDAQ:TIPT) Posts Earnings Results

Tiptree (NASDAQ:TIPT) released 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 return on equity of 11.10% and a net margin of 0.85%. The firm had revenue of $498.22 million for the quarter.

Tiptree Stock Performance

TIPT traded up $0.02 during trading on Thursday, reaching $16.14. The company’s stock had a trading volume of 70,570 shares, compared to its average volume of 113,848. Tiptree has a 52-week low of $12.12 and a 52-week high of $20.80. The company’s fifty day moving average price is $16.75 and its 200-day moving average price is $17.56. The company has a market capitalization of $593.31 million, a price-to-earnings ratio of 50.38 and a beta of 1.23.

Tiptree Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, March 8th. This is a positive change from Tiptree’s previous quarterly dividend of $0.05. Tiptree’s payout ratio is currently 75.00%.

Insider Buying and Selling at Tiptree

In other Tiptree news, CEO Jonathan Ilany acquired 2,900 shares of the stock in a transaction on Tuesday, March 5th. The shares were bought at an average price of $16.95 per share, with a total value of $49,155.00. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.78% of the stock is owned by corporate insiders.

About Tiptree

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.