Tiptree Rallies To New 52-Week High

Many financial companies are rallying off of lows hit last fall, but only a few are making new highs.

Tiptree Inc. (NYSE: TIPT) is one of those outperforming others in the sector and the rest of the market as a whole. The company has moved from $10 in late September to this week’s high of $15.50.

That’s a greater than 50% gain in about four months — an extraordinary accomplishment in any sector.

Greenwich, Connecticut-based Tiptree is on the smaller side of the sector with a market capitalization of just over $540 million. In comparison, the largest mortgage REIT traded on the New York Stock Exchange, Annaly Capital Management Inc. (NYSE: NLY), has a market capitalization of $10.54 billion.

On its website, Tiptree calls itself “a leading underwriter and administrator of specialty program insurance and capital-light warranty product offerings.” The security is relatively lightly traded with an average daily volume of 70,960 shares.

Tiptree’s funds from operations increased by 203% over the past 12 months and 3.6% over the last five years. The company trades at 1.44 times its book value and pays a dividend of 1.04%.

The daily price chart is here:

You can see the new high price after a steady rally from the late September lows. The stock is trading well above both its 50-day moving average (the blue line) and its 200-day moving average (the red line). The relative strength indicator below the price chart signals a negative divergence.

Tiptree’s weekly price chart looks like this:

The company still has a way to go to completely reclaim the late 2021 high of 17. Tiptree is trending upward above both the 50-week moving average and the 200-week moving average.

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Chart courtesy of StockCharts

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