Tiptree (NASDAQ:TIPT) Stock Rating Upgraded by StockNews.com

Tiptree (NASDAQ:TIPT) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.

Tiptree Stock Up 1.8 %

Tiptree stock traded up $0.30 during midday trading on Wednesday, hitting $16.53. 165,198 shares of the stock were exchanged, compared to its average volume of 114,213. The stock has a market capitalization of $607.66 million, a PE ratio of 29.00 and a beta of 1.23. The company has a fifty day simple moving average of $16.66 and a two-hundred day simple moving average of $17.58. Tiptree has a 52 week low of $12.12 and a 52 week high of $20.80.

Tiptree (NASDAQ:TIPT) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.44 earnings per share for the quarter. Tiptree had a net margin of 1.36% and a return on equity of 12.49%. The company had revenue of $498.22 million for the quarter.

Insider Activity

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

Institutional Investors Weigh In On Tiptree

Institutional investors have recently added to or reduced their stakes in the stock. Breach Inlet Capital Management LLC acquired a new stake in shares of Tiptree in the 4th quarter valued at about $14,894,000. Steamboat Capital Partners LLC bought a new position in shares of Tiptree during the first quarter worth about $3,427,000. Cannell Capital LLC raised its position in Tiptree by 17.2% in the 3rd quarter. Cannell Capital LLC now owns 884,084 shares of the financial services provider’s stock valued at $14,817,000 after buying an additional 129,529 shares during the last quarter. EAM Investors LLC bought a new stake in Tiptree in the 3rd quarter valued at approximately $815,000. Finally, Cove Street Capital LLC boosted its position in Tiptree by 11.6% during the 4th quarter. Cove Street Capital LLC now owns 395,635 shares of the financial services provider’s stock worth $7,501,000 after acquiring an additional 41,277 shares during the last quarter. 37.78% of the stock is owned by institutional investors.

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.