Declared Dividend • May 06
First quarter dividend of US$0.06 announced Dividend of US$0.06 is the same as last year. Ex-date: 18th May 2026 Payment date: 26th May 2026 Dividend yield will be 1.4%, which is lower than the industry average of 1.9%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (5% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • May 03
Tiptree Inc. Declares Dividend, Payable on May 26, 2026 Tiptree Inc. declared a dividend of $0.06 per share to stockholders of record on May 18, 2026 with a payment date of May 26, 2026. Announcement • Mar 17
Tiptree Inc., Annual General Meeting, Apr 28, 2026 Tiptree Inc., Annual General Meeting, Apr 28, 2026. New Risk • Mar 10
New major risk - Revenue and earnings growth Earnings have declined by 3.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 3.9% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Paying a dividend despite being loss-making. Declared Dividend • Mar 09
Third quarter dividend of US$0.06 announced Dividend of US$0.06 is the same as last year. Ex-date: 16th March 2026 Payment date: 23rd March 2026 Dividend yield will be 1.4%, which is lower than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (5% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 07
Tiptree Inc. Declares Dividend, Payable on March 23, 2026 Tiptree Inc. declared a dividend of $0.06 per share to stockholders of record on March 16, 2026 with a payment date of March 23, 2026. Recent Insider Transactions Derivative • Feb 24
Chief Financial Officer exercised options and sold US$88k worth of stock On the 20th of February, Scott McKinney exercised options to acquire 5k shares at no cost and sold these for an average price of US$17.06 per share. This trade did not impact their existing holding. Since March 2025, Scott's direct individual holding has increased from 90.14k shares to 100.11k. Company insiders have collectively sold US$2.8m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Dec 06
Tiptree Inc. Announces Executive Changes, Effective December 5, 2025 On December 5, 2025, Tiptree Inc. announced that in connection with downsizing its legal department, Tiptree has separated from Neil Rifkind as Vice President, General Counsel and Secretary of Tiptree, effective immediately. Tiptree and Mr. Rifkind entered into a Separation Agreement dated as of December 5, 2025. On December 5, 2025, the Board of Directors (the “Board”) of Tiptree appointed Siew Kwok as General Counsel, Chief Compliance Officer and Secretary of Tiptree, effective immediately. Mr. Kwok will succeed Mr. Rifkind. Mr. Kwok was previously Deputy General Counsel & Chief Compliance Officer having first started as Assistant General Counsel when he joined Tiptree in 2014. Prior to joining Tiptree, Mr. Kwok worked as a corporate associate at Davis Polk & Wardwell, LLP. Mr. Kwok received his B.A. from Fordham University and his J.D. from Stanford Law School. Announcement • Dec 02
Veradace Partners Provides Information to Shareholders of Tiptree On December 1, 2025, Veradace Partners L P announced that it opposes the proposed sale of Fortegra Group to DB Insurance, at the special meeting of shareholders scheduled for December 3, 2025. In addition, Veradace Partners stated that the Company board rushed the deal and excluded private equity bidders, only 19 potential buyers contacted; IPO option dismissed prematurely, non-solicitation agreement blocked alternative proposals and stated that the sale price is hundreds of millions below fair value, Fortegra valued at 8.0x earnings, while peers trade at 12.5x, Fortegra’s capitalization is projected to increase 120% by 2029, no immediate need for extra capital; plenty of time to re-run sale process. Furter, Veradace Partners stated that the Company stock fell ~23% after announcement, alternatively, Veradace Partners suggested to re-engage private equity sponsors, pursue a backstopped IPO of Fortegra, explore sale of entire Company, not just Fortegra. Recent Insider Transactions • Nov 12
Independent Director recently bought US$101k worth of stock On the 7th of November, Dominique Mielle bought around 6k shares on-market at roughly US$18.29 per share. This transaction amounted to 8.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$315k more in shares than they bought in the last 12 months. Announcement • Nov 10
Veradace Partners Issues on Open Letter to Shareholders of Tiptree On November 10, 2025, Veradace Partners L P stating that it has sent an open letter to shareholders of Tiptree Inc, opposes the proposed sale of Fortegra, arguing it is unfairly structured and undervalued, the deal is an asset sale, not a full company sale, which is tax-inefficient and appears designed to give Company management control over nearly $1 billion in shareholder funds, despite Fortegra being valued at $28.75 per share, shareholders are not guaranteed any direct payout, Company’s share price has dropped 23% since the announcement. In addition, Veradace mentioned Company’s history of poor capital allocation and conflicted incentives, executive compensation and related-party payments have consistently extracted value from shareholders, non-Fortegra assets have declined in value significantly, it believes Fortegra deserves a premium valuation and is the core value driver of the Company. Further, Veradace urged the Company shareholders to vote against the transaction, suggests DB Insurance should acquire Tiptree directly to ensure fair value distribution to shareholders, promises to release further analysis and encourages shareholders to reach out for more information. Declared Dividend • Nov 03
Dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 17th November 2025 Payment date: 24th November 2025 Dividend yield will be 2.8%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (5% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Third quarter 2025 earnings released: EPS: US$0.17 (vs US$0.32 in 3Q 2024) Third quarter 2025 results: EPS: US$0.17 (down from US$0.32 in 3Q 2024). Revenue: US$540.3m (up 9.3% from 3Q 2024). Net income: US$6.38m (down 46% from 3Q 2024). Profit margin: 1.2% (down from 2.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Oct 31
Tiptree Inc. Declares Quarterly Dividend, Payable on November 24, 2025 Tiptree Inc. Declared a dividend of $0.06 per share to stockholders of record on November 17, 2025 with a payment date of November 24, 2025. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$19.05, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 14x in the Insurance industry in the US. Total returns to shareholders of 86% over the past three years. Recent Insider Transactions Derivative • Sep 14
Executive Chairman of the Board exercised options and sold US$777k worth of stock On the 12th of September, Michael Barnes exercised 163.16k options at around US$5.67, then sold 41k of the shares acquired at an average of US$24.78 per share and kept the remainder. Since December 2024, Michael's direct individual holding has increased from 9.90m shares to 9.96m. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Sep 08
CEO & Director exercised options to buy US$3.1m worth of stock. On the 2nd of September, Jonathan Ilany exercised 150.74k options at around US$5.67, then sold 13.70k of them at US$23.36 each and kept the remainder. Since December 2024, Jonathan's direct individual holding has decreased from 1.56m shares to 338.93k. Company insiders have collectively sold US$1.3m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Aug 03
Dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 18th August 2025 Payment date: 25th August 2025 Dividend yield will be 2.4%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 01
Tiptree Inc. announces Quarterly dividend, payable on August 25, 2025 Tiptree Inc. announced Quarterly dividend of USD 0.0600 per share payable on August 25, 2025, ex-date on August 18, 2025 and record date on August 18, 2025. Reported Earnings • Jul 31
Second quarter 2025 earnings released: EPS: US$0.51 (vs US$0.35 in 2Q 2024) Second quarter 2025 results: EPS: US$0.51 (up from US$0.35 in 2Q 2024). Revenue: US$528.8m (down 3.3% from 2Q 2024). Net income: US$19.0m (up 49% from 2Q 2024). Profit margin: 3.6% (up from 2.3% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 04
Dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 12th May 2025 Payment date: 19th May 2025 Dividend yield will be 2.3%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 35% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 01
First quarter 2025 earnings released: EPS: US$0.15 (vs US$0.24 in 1Q 2024) First quarter 2025 results: EPS: US$0.15 (down from US$0.24 in 1Q 2024). Revenue: US$497.4m (flat on 1Q 2024). Net income: US$5.64m (down 37% from 1Q 2024). Profit margin: 1.1% (down from 1.8% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • May 01
Tiptree Inc. Declares Quarterly Dividend, Payable on May 19, 2025 Tiptree Inc. declared a quarterly dividend of $0.06 per share to stockholders of record on May 12, 2025 with a payment date of May 19, 2025. Announcement • Apr 11
Tiptree Inc., Annual General Meeting, Apr 29, 2025 Tiptree Inc., Annual General Meeting, Apr 29, 2025. Recent Insider Transactions • Mar 27
VP, General Counsel & Secretary recently sold US$416k worth of stock On the 25th of March, Neil Rifkind sold around 17k shares on-market at roughly US$25.00 per share. This transaction amounted to 48% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$389k more than they bought in the last 12 months. Declared Dividend • Mar 02
Dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 10th March 2025 Payment date: 17th March 2025 Dividend yield will be 2.2%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions Derivative • Feb 27
VP, General Counsel & Secretary exercised options and sold US$221k worth of stock On the 24th of February, Neil Rifkind exercised options to acquire 11k shares at no cost and sold these for an average price of US$19.90 per share. This trade did not impact their existing holding. Since March 2024, Neil has owned 18.67k shares directly. Company insiders have collectively sold US$1.4m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Feb 27
Tiptree Inc. Declares A Dividend, Payable on March 17, 2025 Tiptree Inc. Declared a dividend of $0.06 per share to stockholders of record on March 10, 2025 with a payment date of March 17, 2025. Announcement • Dec 02
Tiptree Announces Declaration of A Special Dividend, Payable on December 19, 2024 Tiptree Inc. announced that its board of directors (the “Board”) has approved the declaration and distribution of a special cash dividend (the “Special Dividend”) of $0.25 per share of Tiptree Inc. Common Stock. The Special Dividend is payable on December 19, 2024, to holders of record on December 11, 2024. This Special Dividend is in addition to the Company’s regular quarterly cash dividend of $0.06 per share most recently paid on November 25, 2024. Declared Dividend • Nov 03
Third quarter dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 18th November 2024 Payment date: 25th November 2024 Dividend yield will be 1.2%, which is lower than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 10% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 52% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.32 (vs US$0.058 in 3Q 2023) Third quarter 2024 results: EPS: US$0.32 (up from US$0.058 in 3Q 2023). Revenue: US$494.4m (up 19% from 3Q 2023). Net income: US$11.9m (up 457% from 3Q 2023). Profit margin: 2.4% (up from 0.5% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year and the company’s share price has also increased by 8% per year. Recent Insider Transactions Derivative • Oct 23
Chief Financial Officer exercised options and sold US$482k worth of stock On the 18th of October, Scott McKinney exercised options to acquire 23k shares at no cost and sold these for an average price of US$20.95 per share. This trade did not impact their existing holding. Since March 2024, Scott has owned 55.36k shares directly. Company insiders have collectively sold US$1.4m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Oct 15
President & Director exercised options and sold US$590k worth of stock On the 9th of October, Randy Maultsby exercised options to acquire 31k shares at no cost and sold these for an average price of US$19.11 per share. This trade did not impact their existing holding. Since March 2024, Randy's direct individual holding has increased from 11.47k shares to 47.24k. Company insiders have collectively sold US$924k more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Aug 04
Second quarter dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 19th August 2024 Payment date: 26th August 2024 Dividend yield will be 1.3%, which is lower than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 40% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: US$0.35 (vs US$0.16 in 2Q 2023) Second quarter 2024 results: EPS: US$0.35 (up from US$0.16 in 2Q 2023). Revenue: US$546.7m (up 35% from 2Q 2023). Net income: US$12.9m (up 116% from 2Q 2023). Profit margin: 2.4% (up from 1.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Declared Dividend • May 05
First quarter dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 17th May 2024 Payment date: 28th May 2024 Dividend yield will be 1.3%, which is lower than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: US$0.25 (vs US$0.029 loss in 1Q 2023) First quarter 2024 results: EPS: US$0.25 (up from US$0.029 loss in 1Q 2023). Revenue: US$498.2m (up 31% from 1Q 2023). Net income: US$9.05m (up US$10.1m from 1Q 2023). Profit margin: 1.8% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Announcement • May 02
Tiptree Inc. Declares Dividend, Payable on May 28, 2024 Tiptree Inc. announced that it has declared a dividend of $0.06 per share to stockholders of record on May 20, 2024 with a payment date of May 28, 2024. Announcement • Apr 20
Tiptree Inc. to Report Q1, 2024 Results on May 02, 2024 Tiptree Inc. announced that they will report Q1, 2024 results at 4:00 PM, US Eastern Standard Time on May 02, 2024 Announcement • Mar 30
Adlai Chester entered into a definitive share purchase agreement to acquire an additional 30.2% stake in Invesque Inc. (TSX:IVQ) from Tiptree Inc. (NasdaqCM:TIPT) for CAD 0.85 million. Adlai Chester entered into a definitive share purchase agreement to acquire an additional 30.2% stake in Invesque Inc. (TSX:IVQ) from Tiptree Inc. (NasdaqCM:TIPT) for CAD 0.85 million on March 29, 2024. Under the agreement, certain of the subsidiaries of Tiptree Inc. will dispose of an aggregate of 16,982,283 common shares of Invesque Inc for CAD 0.049868 per common share, in a private sale to Adlai Chester, Chief Financial Officer of Invesque. Following the acquisition, Tiptree will no longer own or control any shares in Invesque Inc. Adlai Chester, who currently owns 212,907 common shares of Invesque, will own 17,195,190 common shares, representing approximately 30.59% of the outstanding common shares of Invesque. The acquisition remains subject to customary closing conditions and is expected to be completed on or before April 30, 2024. Announcement • Mar 19
Tiptree Inc., Annual General Meeting, Apr 30, 2024 Tiptree Inc., Annual General Meeting, Apr 30, 2024, at 16:00 US Eastern Standard Time. Agenda: To elect two Class II directors to serve for a term expiring at the 2027 Annual Meeting; to ratify the selection of Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending December 31, 2024; and to conduct such other business as may properly come before the meeting or any adjournment or postponement thereof. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: US$0.38 (vs US$0.23 loss in FY 2022) Full year 2023 results: EPS: US$0.38 (up from US$0.23 loss in FY 2022). Revenue: US$1.65b (up 18% from FY 2022). Net income: US$14.0m (up US$22.2m from FY 2022). Profit margin: 0.8% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings. Announcement • Feb 29
Tiptree Inc. Declares Dividend, Payable on March 18, 2024 Tiptree Inc. declared a cash dividend of $0.06 per share to Tiptree’s stockholders, with a record date of March 11, 2024 and a payment date of March 18, 2024. Announcement • Feb 23
Tiptree Inc. to Report Q4, 2023 Results on Feb 29, 2024 Tiptree Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Feb 29, 2024 Recent Insider Transactions • Jan 10
VP, General Counsel & Secretary recently sold US$355k worth of stock On the 8th of January, Neil Rifkind sold around 18k shares on-market at roughly US$19.54 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$344k more than they bought in the last 12 months. Upcoming Dividend • Nov 10
Upcoming dividend of US$0.05 per share at 1.2% yield Eligible shareholders must have bought the stock before 17 November 2023. Payment date: 27 November 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (5.2%). Lower than average of industry peers (2.1%). Announcement • Nov 03
Tiptree Inc. Declares A Cash Dividend, Payable on November 27, 2023 Tiptree Inc. announced that the board of directors of the Company has declared a cash dividend of $0.05 per share to Tiptree’s stockholders, with a record date of November 20, 2023 and a payment date of November 27, 2023. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: US$0.059 (vs US$0.39 in 3Q 2022) Third quarter 2023 results: EPS: US$0.059 (down from US$0.39 in 3Q 2022). Revenue: US$416.5m (up 19% from 3Q 2022). Net income: US$2.15m (down 85% from 3Q 2022). Profit margin: 0.5% (down from 4.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 11
Upcoming dividend of US$0.05 per share at 1.3% yield Eligible shareholders must have bought the stock before 18 August 2023. Payment date: 28 August 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.2%). Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$0.16 (vs US$0.64 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.16 (up from US$0.64 loss in 2Q 2022). Revenue: US$404.5m (up 22% from 2Q 2022). Net income: US$5.99m (up US$28.4m from 2Q 2022). Profit margin: 1.5% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 12
Upcoming dividend of US$0.05 per share at 1.6% yield Eligible shareholders must have bought the stock before 19 May 2023. Payment date: 30 May 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (5.2%). Lower than average of industry peers (2.2%). Reported Earnings • May 05
First quarter 2023 earnings released: US$0.029 loss per share (vs US$0.028 loss in 1Q 2022) First quarter 2023 results: US$0.029 loss per share (further deteriorated from US$0.028 loss in 1Q 2022). Revenue: US$381.6m (up 18% from 1Q 2022). Net loss: US$1.06m (loss widened 11% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 30% per year and the company’s share price has also increased by 30% per year. Announcement • May 04
Tiptree Inc. Declares a Cash Dividend, Payable on May 30, 2023 Tiptree Inc. announced that the board of directors of the Company has declared a cash dividend of $0.05 per share to Tiptree’s stockholders, with a record date of May 22, 2023 and a payment date of May 30, 2023. Reported Earnings • Mar 09
Full year 2022 earnings released: US$0.23 loss per share (vs US$1.13 profit in FY 2021) Full year 2022 results: US$0.23 loss per share (down from US$1.13 profit in FY 2021). Revenue: US$1.40b (up 16% from FY 2021). Net loss: US$8.27m (down 122% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. President & Director Randy Maultsby was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 11
Upcoming dividend of US$0.04 per share Eligible shareholders must have bought the stock before 18 November 2022. Payment date: 28 November 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.3%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (2.2%). Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: US$0.39 (vs US$0.059 in 3Q 2021) Third quarter 2022 results: EPS: US$0.39 (up from US$0.059 in 3Q 2021). Revenue: US$349.4m (up 22% from 3Q 2021). Net income: US$14.0m (up US$12.1m from 3Q 2021). Profit margin: 4.0% (up from 0.7% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Nov 03
Tiptree Inc. Declares Cash Dividend, Payable on November 28, 2022 Tiptree Inc. declared a cash dividend of $0.04 per share to Tiptree’s stockholders, with a record date of November 21, 2022 and a payment date of November 28, 2022. Announcement • Oct 18
Tiptree Inc. Announces CFO Transition Tiptree Inc. announced that Sandra Bell will be retiring as Chief Financial Officer of Tiptree, effective March 31, 2023 (the Transition Effective Date). Tiptree also announced that Scott McKinney will succeed Ms. Bell as Chief Financial Officer on the Transition Effective Date. The Company and Ms. Bell have mutually agreed on the terms under which she will stay on as CFO until the Transition Effective Date. Mr. McKinney was recently promoted to Deputy Chief Financial Officer in April of this year and previously served as Director of Financial Planning and Analysis, which included overseeing strategic planning and financial analysis along with heading up investor relations efforts. Prior to joining Tiptree in 2016, Mr. McKinney worked in various finance executive positions at General Electric Company. Mr. McKinney received his BS in Management from Purdue University. Recent Insider Transactions Derivative • Oct 01
CFO & Principal Accounting Officer notifies of intention to sell stock Sandra Bell intends to sell 20k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of September. If the sale is conducted around the recent share price of US$10.53, it would amount to US$208k. Since March 2022, Sandra's direct individual holding has decreased from 33.07k shares to 21.57k. Company insiders have collectively bought US$9.4m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Sep 17
President & Director recently sold US$221k worth of stock On the 15th of September, Randy Maultsby sold around 20k shares on-market at roughly US$11.07 per share. This transaction amounted to 54% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Randy's only on-market trade for the last 12 months. Upcoming Dividend • Aug 12
Upcoming dividend of US$0.04 per share Eligible shareholders must have bought the stock before 19 August 2022. Payment date: 29 August 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.3%. Lower than top quartile of American dividend payers (4.0%). Lower than average of industry peers (2.3%). Reported Earnings • Aug 11
Second quarter 2022 earnings released: US$0.64 loss per share (vs US$0.24 profit in 2Q 2021) Second quarter 2022 results: US$0.64 loss per share (down from US$0.24 profit in 2Q 2021). Revenue: US$332.7m (up 11% from 2Q 2021). Net loss: US$22.4m (down 386% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Aug 09
Tiptree Inc. Declares Dividend, Payable on August 29, 2022 Tiptree Inc. declared a dividend of $0.04 per share to stockholders of record on August 22, 2022 with a payment date of August 29, 2022. Recent Insider Transactions Derivative • Jun 04
Executive Chairman of the Board exercised options to buy US$11m worth of stock. On the 1st of June, Michael Barnes exercised options to buy 979k shares at a strike price of around US$6.93, costing a total of US$6.8m. This transaction amounted to 11% of their direct individual holding at the time of the trade. Since September 2021, Michael's direct individual holding has increased from 8.49m shares to 9.62m. Company insiders have collectively bought US$6.6m more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • May 13
Upcoming dividend of US$0.04 per share Eligible shareholders must have bought the stock before 20 May 2022. Payment date: 31 May 2022. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (4.1%). Lower than average of industry peers (2.2%). Reported Earnings • May 06
First quarter 2022 earnings released: US$0.028 loss per share (vs US$0.86 profit in 1Q 2021) First quarter 2022 results: US$0.028 loss per share (down from US$0.86 profit in 1Q 2021). Revenue: US$324.9m (up 10% from 1Q 2021). Net loss: US$960.0k (down 103% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • May 06
Tiptree Inc. Declares Dividend, Payable on May 31, 2022 Tiptree Inc. declared a dividend of $0.04 per share to stockholders of record on May 23, 2022 with a payment date of May 31, 2022. Announcement • Apr 23
Tiptree Inc., Annual General Meeting, Jun 07, 2022 Tiptree Inc., Annual General Meeting, Jun 07, 2022, at 16:00 US Eastern Standard Time. Agenda: To elect two (2) Class III directors to serve for a term expiring at the 2025 Annual Meeting; to approve an amendment to the Tiptree Inc. 2017 Omnibus Incentive Plan; to ratify the selection of Deloitte & Touche LLP ( Deloitte) as independent registered public accounting firm for the fiscal year ending December 31, 2022; and to conduct such other business as may properly come before the meeting or any adjournment or postponement thereof. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$1.15 (up from US$0.86 loss in FY 2020). Revenue: US$1.20b (up 47% from FY 2020). Net income: US$38.1m (up US$67.3m from FY 2020). Profit margin: 3.2% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Combined ratio: 90.6% (down from 91.5% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • Nov 24
President & Director exercised options and sold US$268k worth of stock On the 22nd of November, Randy Maultsby exercised options to acquire 18k shares at no cost and sold these for an average price of US$15.12 per share. This trade did not impact their existing holding. Since September 2021, Randy has owned 64.26k shares directly. Company insiders have collectively bought US$932k more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Nov 12
Upcoming dividend of US$0.04 per share Eligible shareholders must have bought the stock before 19 November 2021. Payment date: 29 November 2021. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (3.4%). Lower than average of industry peers (2.3%). Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS US$0.06 (vs US$0.37 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$286.6m (up 28% from 3Q 2020). Net income: US$2.01m (down 84% from 3Q 2020). Profit margin: 0.7% (down from 5.5% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 36% share price gain to US$14.22, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 10x in the Insurance industry in the US. Total returns to shareholders of 155% over the past three years. Upcoming Dividend • Aug 13
Upcoming dividend of US$0.04 per share Eligible shareholders must have bought the stock before 20 August 2021. Payment date: 30 August 2021. Trailing yield: 1.5%. Lower than top quartile of American dividend payers (3.5%). Lower than average of industry peers (2.3%). Reported Earnings • Aug 05
Second quarter 2021 earnings released: EPS US$0.24 (vs US$0.11 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$299.7m (up 50% from 2Q 2020). Net income: US$7.97m (up 115% from 2Q 2020). Profit margin: 2.7% (up from 1.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Tiptree Inc.(NasdaqCM:TIPT) dropped from Russell 2000 Value-Defensive Index Tiptree Inc.(NasdaqCM:TIPT) dropped from Russell 2000 Value-Defensive Index