Tiptree Inc (NASDAQ:TIPT) Chairman Michael Gene Barnes purchased 4,798 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $6.87 per share, for a total transaction of $32,962.26. Following the completion of the purchase, the chairman now directly owns 8,061,188 shares in the company, valued at $55,380,361.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Friday, August 30th, Michael Gene Barnes purchased 6,000 shares of Tiptree stock. The stock was bought at an average cost of $6.86 per share, for a total transaction of $41,160.00.
  • On Wednesday, August 28th, Michael Gene Barnes purchased 9,366 shares of Tiptree stock. The stock was bought at an average cost of $6.84 per share, for a total transaction of $64,063.44.
  • On Monday, August 26th, Michael Gene Barnes purchased 13,806 shares of Tiptree stock. The stock was bought at an average cost of $6.63 per share, for a total transaction of $91,533.78.
  • On Thursday, August 22nd, Michael Gene Barnes purchased 24,900 shares of Tiptree stock. The stock was bought at an average cost of $6.75 per share, for a total transaction of $168,075.00.
  • On Tuesday, August 20th, Michael Gene Barnes purchased 4,565 shares of Tiptree stock. The stock was bought at an average cost of $6.72 per share, for a total transaction of $30,676.80.
  • On Friday, August 16th, Michael Gene Barnes purchased 12,083 shares of Tiptree stock. The stock was bought at an average cost of $6.56 per share, for a total transaction of $79,264.48.
  • On Wednesday, August 14th, Michael Gene Barnes purchased 7,887 shares of Tiptree stock. The stock was bought at an average cost of $6.54 per share, for a total transaction of $51,580.98.
  • On Friday, August 9th, Michael Gene Barnes bought 3,648 shares of Tiptree stock. The shares were acquired at an average cost of $6.53 per share, for a total transaction of $23,821.44.
  • On Monday, August 12th, Michael Gene Barnes bought 7,118 shares of Tiptree stock. The shares were acquired at an average cost of $6.52 per share, for a total transaction of $46,409.36.
  • On Wednesday, June 19th, Michael Gene Barnes bought 3,700 shares of Tiptree stock. The shares were acquired at an average cost of $6.47 per share, for a total transaction of $23,939.00.

Shares of TIPT traded down $0.04 during mid-day trading on Friday, hitting $6.95. 6,836 shares of the company’s stock traded hands, compared to its average volume of 21,526. Tiptree Inc has a 1 year low of $5.01 and a 1 year high of $7.00. The firm has a market capitalization of $236.68 million, a P/E ratio of 42.81 and a beta of -0.03. The business’s 50-day moving average price is $6.65 and its 200-day moving average price is $6.29.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were paid a dividend of $0.04 per share. The ex-dividend date was Friday, August 16th. This represents a $0.16 annualized dividend and a dividend yield of 2.30%.

Several institutional investors and hedge funds have recently bought and sold shares of TIPT. BNP Paribas Arbitrage SA increased its stake in shares of Tiptree by 418.7% during the first quarter. BNP Paribas Arbitrage SA now owns 5,623 shares of the financial services provider’s stock valued at $36,000 after buying an additional 4,539 shares during the period. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of Tiptree during the second quarter valued at approximately $50,000. Paloma Partners Management Co purchased a new position in shares of Tiptree during the second quarter valued at approximately $63,000. SG Americas Securities LLC purchased a new position in shares of Tiptree during the first quarter valued at approximately $123,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Tiptree by 50.4% during the second quarter. Panagora Asset Management Inc. now owns 30,229 shares of the financial services provider’s stock valued at $190,000 after buying an additional 10,133 shares during the period. 34.50% of the stock is currently owned by hedge funds and other institutional investors.

Separately, ValuEngine raised Tiptree from a “hold” rating to a “buy” rating in a research note 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.

Further Reading: Index Funds

Insider Buying and Selling by Quarter for Tiptree (NASDAQ:TIPT)

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