Tiptree (NASDAQ:TIPT) Releases Earnings Results

Tiptree (NASDAQ:TIPT) issued its earnings results on Wednesday. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $498.22 million during the quarter. Tiptree had a return on equity of 12.49% and a net margin of 1.36%.

Tiptree Stock Up 1.1 %

Shares of TIPT traded up $0.18 on Friday, reaching $16.65. The stock had a trading volume of 81,714 shares, compared to its average volume of 84,132. The firm has a market capitalization of $612.05 million, a PE ratio of 29.21 and a beta of 1.23. The firm has a 50-day moving average of $16.73 and a 200 day moving average of $17.56. Tiptree has a twelve month low of $12.12 and a twelve month high of $20.80.

Tiptree Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 20th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 17th. Tiptree’s dividend payout ratio is currently 42.11%.

Insider Buying and Selling

In other news, CEO Jonathan Ilany purchased 2,900 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average price of $16.95 per share, for a total transaction of $49,155.00. Following the acquisition, the chief executive officer now directly owns 190,471 shares in the company, valued at approximately $3,228,483.45. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 31.78% of the company’s stock.

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.