Tiptree Inc. (NASDAQ:TIPT) to Issue $0.06 Quarterly Dividend

Tiptree Inc. (NASDAQ:TIPT) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.06 per share by the financial services provider on Tuesday, May 28th. This represents a $0.24 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, May 17th.

Tiptree has increased its dividend by an average of 7.7% annually over the last three years and has increased its dividend every year for the last 2 years.

Tiptree Stock Up 1.1 %

Shares of TIPT stock traded up $0.18 during trading hours on Friday, hitting $16.65. 81,714 shares of the company’s stock traded hands, compared to its average volume of 114,171. The stock has a market cap of $612.05 million, a PE ratio of 29.21 and a beta of 1.23. The stock’s 50 day simple moving average is $16.73 and its 200 day simple moving average is $17.56. Tiptree has a 12 month low of $12.12 and a 12 month high of $20.80.

Tiptree (NASDAQ:TIPT) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. Tiptree had a return on equity of 12.73% and a net margin of 1.36%. The business had revenue of $498.22 million during the quarter.

Insider Buying and Selling

In other news, CEO Jonathan Ilany acquired 2,900 shares of Tiptree stock in a transaction dated Tuesday, March 5th. The shares were bought 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 approximately $3,228,483.45. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 31.78% of the stock is owned by insiders.

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.