Tiptree Inc. (NASDAQ:TIPT – Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Monday, May 20th will be paid 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 dividend yield of 1.44%. The ex-dividend date is Friday, May 17th.
Tiptree has raised its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend annually for the last 2 consecutive years.
Tiptree Trading Up 1.1 %
Shares of TIPT traded up $0.18 during midday trading on Friday, reaching $16.65. 81,714 shares of the company were exchanged, compared to its average volume of 114,171. The stock has a 50-day moving average price of $16.73 and a 200-day moving average price of $17.56. The company has a market cap of $612.05 million, a price-to-earnings ratio of 29.21 and a beta of 1.23. Tiptree has a 1-year low of $12.12 and a 1-year high of $20.80.
Insider Buying and Selling
In related news, CEO Jonathan Ilany purchased 2,900 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of $16.95 per share, for a total transaction of $49,155.00. Following the transaction, the chief executive officer now owns 190,471 shares of the company’s stock, valued at $3,228,483.45. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 31.78% of the company’s stock.
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.
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