Tiptree (NASDAQ:TIPT) Reaches New 52-Week High – Still a Buy?

Tiptree Inc. (NASDAQ:TIPT)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $21.96 and last traded at $21.96, with a volume of 232 shares trading hands. The stock had previously closed at $19.72.

Analysts Set New Price Targets

Separately, StockNews.com raised Tiptree from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 25th.

Tiptree Trading Up 5.0 %

The firm has a market capitalization of $761.45 million, a P/E ratio of 37.47 and a beta of 1.30. The firm has a 50 day moving average price of $19.55 and a 200-day moving average price of $18.03.

Tiptree (NASDAQ:TIPT) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter. The firm had revenue of $546.67 million during the quarter. Tiptree had a return on equity of 11.97% and a net margin of 1.62%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TIPT. Tectonic Advisors LLC increased its holdings in shares of Tiptree by 2.8% in the 3rd quarter. Tectonic Advisors LLC now owns 27,496 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 737 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Tiptree by 10.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 16,252 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 1,473 shares during the period. Rhumbline Advisers increased its holdings in shares of Tiptree by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 38,566 shares of the financial services provider’s stock valued at $636,000 after acquiring an additional 1,977 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Tiptree by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 12,652 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 2,576 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new stake in shares of Tiptree in the 3rd quarter worth $56,000. 37.78% of the stock is currently owned by hedge funds and other 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.