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Tiptree

Nasdaq:TIPT
Snowflake Description

Imperfect balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TIPT
Nasdaq
$247M
Market Cap
  1. Home
  2. US
  3. Insurance
Company description

Tiptree Inc., through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The last earnings update was 106 days ago. More info.


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TIPT Share Price and Events
7 Day Returns
-1.5%
NasdaqCM:TIPT
-0.4%
US Insurance
0.1%
US Market
1 Year Returns
13.5%
NasdaqCM:TIPT
17.4%
US Insurance
19.4%
US Market
TIPT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tiptree (TIPT) -1.5% -5% -4.4% 13.5% 6.7% 0.4%
US Insurance -0.4% 2.8% 6.9% 17.4% 25.6% 52.4%
US Market 0.1% 1.1% 8.9% 19.4% 39.3% 53.1%
1 Year Return vs Industry and Market
  • TIPT underperformed the Insurance industry which returned 17.4% over the past year.
  • TIPT underperformed the Market in United States of America which returned 19.4% over the past year.
Price Volatility
TIPT
Industry
5yr Volatility vs Market

TIPT Value

 Is Tiptree undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Tiptree to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Tiptree.

NasdaqCM:TIPT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $10.70 * 1.9%
$0.21
Book Value of Equity per Share Median Book Value from the past 5 years. $10.70
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:TIPT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.66
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.656 (1 + (1- 21%) (146.01%))
1.277
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.28
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.277 * 5.44%)
8.68%

Discounted Cash Flow Calculation for NasdaqCM:TIPT using Excess Returns Model Model

The calculations below outline how an intrinsic value for Tiptree is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:TIPT Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (1.9% – 8.68%) * $10.70)
$-0.72
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.72 / (8.68% - 1.74%)
$-10.43
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $10.70 + $-10.43
$0.27
NasdaqCM:TIPT Discount to Share Price
Calculation Result
Value per share (USD) From above. $0.27
Current discount Discount to share price of $7.15
= -1 x ($7.15 - $0.27) / $0.27
-2536.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Tiptree is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Tiptree's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tiptree's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:TIPT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $0.14
NasdaqCM:TIPT Share Price ** NasdaqCM (2020-02-19) in USD $7.15
United States of America Insurance Industry PE Ratio Median Figure of 89 Publicly-Listed Insurance Companies 13.62x
United States of America Market PE Ratio Median Figure of 2,898 Publicly-Listed Companies 18.25x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Tiptree.

NasdaqCM:TIPT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:TIPT Share Price ÷ EPS (both in USD)

= 7.15 ÷ 0.14

52.78x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tiptree is overvalued based on earnings compared to the US Insurance industry average.
  • Tiptree is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Tiptree's expected growth come at a high price?
Raw Data
NasdaqCM:TIPT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 52.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Insurance Industry PEG Ratio Median Figure of 64 Publicly-Listed Insurance Companies 0.73x
United States of America Market PEG Ratio Median Figure of 2,005 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Tiptree, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tiptree's assets?
Raw Data
NasdaqCM:TIPT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $11.43
NasdaqCM:TIPT Share Price * NasdaqCM (2020-02-19) in USD $7.15
United States of America Insurance Industry PB Ratio Median Figure of 118 Publicly-Listed Insurance Companies 1.15x
United States of America Market PB Ratio Median Figure of 5,104 Publicly-Listed Companies 1.79x
NasdaqCM:TIPT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:TIPT Share Price ÷ Book Value per Share (both in USD)

= 7.15 ÷ 11.43

0.63x

* Primary Listing of Tiptree.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Tiptree is good value based on assets compared to the US Insurance industry average.
X
Value checks
We assess Tiptree's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Tiptree has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TIPT Future Performance

 How is Tiptree expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tiptree has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4%
Expected Insurance industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tiptree expected to grow at an attractive rate?
  • Unable to compare Tiptree's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Tiptree's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Tiptree's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:TIPT Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4%
United States of America Insurance Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:TIPT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:TIPT Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 709 34 5
2019-06-30 692 49 6
2019-03-31 662 46 -5
2018-12-31 626 58 -20
2018-09-30 626 66 -1
2018-06-30 605 30 -2
2018-03-31 599 1 -6
2017-12-31 606 47 8
2017-09-30 583 92 9
2017-06-30 576 68 17
2017-03-31 575 72 26
2016-12-31 558 37 29

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Tiptree is high growth as no earnings estimate data is available.
  • Unable to determine if Tiptree is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:TIPT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Tiptree Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:TIPT Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 0.14
2019-06-30 0.16
2019-03-31 -0.14
2018-12-31 -0.57
2018-09-30 -0.02
2018-06-30 -0.07
2018-03-31 -0.19
2017-12-31 0.26
2017-09-30 0.33
2017-06-30 0.60
2017-03-31 0.87
2016-12-31 0.93

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Tiptree will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of TIPT’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Tiptree's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Insurance companies here
  3. Tiptree's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Tiptree's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Tiptree has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TIPT Past Performance

  How has Tiptree performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Tiptree's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Tiptree's year on year earnings growth rate has been positive over the past 5 years.
  • Tiptree has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Tiptree has become profitable in the last year making it difficult to compare the US Insurance industry average.
Earnings and Revenue History
Tiptree's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Tiptree Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:TIPT Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 708.94 4.73 136.50
2019-06-30 692.42 5.57 131.10
2019-03-31 661.66 -5.08 126.93
2018-12-31 625.83 -19.84 124.67
2018-09-30 625.70 -0.60 123.27
2018-06-30 605.13 -2.07 123.01
2018-03-31 598.83 -5.60 124.91
2017-12-31 605.64 7.54 126.33
2017-09-30 583.33 9.36 109.26
2017-06-30 575.69 17.29 119.53
2017-03-31 574.57 26.07 123.64
2016-12-31 557.71 29.38 125.87
2016-09-30 555.38 14.52 136.22
2016-06-30 534.61 4.13 130.00
2016-03-31 498.58 -7.99 121.35
2015-12-31 414.59 -5.17 92.25
2015-09-30 395.12 -26.23 104.12
2015-06-30 305.80 -19.20 79.11
2015-03-31 233.59 -13.31 60.65
2014-12-31 143.48 -9.65 35.83
2014-09-30 100.30 -1.42 19.57
2014-06-30 94.27 -2.06 19.90
2014-03-31 71.24 -14.77 22.74
2013-12-31 84.58 -14.63 25.38
2013-09-30 35.17 -8.91 43.87
2013-06-30 45.76 -8.38 45.06
2013-03-31 63.68 6.81 42.14

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Tiptree has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tiptree used its assets less efficiently than the US Insurance industry average last year based on Return on Assets.
  • Tiptree's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tiptree's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Tiptree has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TIPT Health

 How is Tiptree's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Tiptree's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tiptree's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Tiptree's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tiptree's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Tiptree Company Filings, last reported 4 months ago.

NasdaqCM:TIPT Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 407.41 329.50 143.51
2019-06-30 407.04 296.56 182.17
2019-03-31 394.66 282.80 93.57
2018-12-31 399.26 354.08 89.46
2018-09-30 395.97 365.27 87.20
2018-06-30 400.82 366.22 96.30
2018-03-31 407.66 320.51 85.34
2017-12-31 396.77 346.08 115.48
2017-09-30 391.14 866.06 147.68
2017-06-30 390.67 822.45 122.58
2017-03-31 393.84 752.56 120.64
2016-12-31 390.14 555.27 103.27
2016-09-30 381.34 777.21 130.14
2016-06-30 380.47 659.06 107.49
2016-03-31 409.72 716.67 94.69
2015-12-31 397.69 669.26 85.51
2015-09-30 406.77 628.71 176.55
2015-06-30 405.35 467.13 201.92
2015-03-31 397.24 476.99 73.91
2014-12-31 401.62 363.20 83.22
2014-09-30 547.76 445.04 218.73
2014-06-30 561.28 305.63 156.18
2014-03-31 565.47 400.40 157.66
2013-12-31 396.90 269.59 133.69
2013-09-30 555.78 257.45 163.05
2013-06-30 105.57 33.38 69.00
2013-03-31 91.72 112.88 27.76
  • Tiptree's level of debt (80.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (81.3% vs 80.9% today).
  • Debt is not well covered by operating cash flow (10.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Tiptree's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Tiptree has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TIPT Dividends

 What is Tiptree's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.24%
Current annual income from Tiptree dividends.
If you bought $2,000 of Tiptree shares you are expected to receive $45 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Tiptree's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • Tiptree's dividend is below the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:TIPT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Insurance Industry Average Dividend Yield Market Cap Weighted Average of 77 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1962 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:TIPT Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-05 0.160 2.173
2019-05-06 0.160 2.551
2019-03-13 0.140 2.283
2018-11-05 0.140 2.434
2018-08-06 0.140 2.212
2018-05-07 0.140 2.093
2018-03-14 0.120 1.914
2017-11-07 0.120 1.948
2017-08-07 0.120 1.869
2017-06-06 0.120 1.738
2017-05-11 0.120 1.920
2017-03-13 0.100 1.446
2016-11-08 0.100 1.542
2016-05-10 0.100 1.813
2016-03-15 0.100 1.783
2015-11-13 0.100 1.623
2015-08-13 0.100 1.552
2015-05-15 0.100 1.515
2015-03-31 0.000 0.000
2014-11-12 0.000 0.000
2014-08-12 0.000 0.000
2014-05-14 0.000 0.000
2014-03-18 0.000 0.000
2013-11-14 0.000 0.000
2013-08-14 0.080 1.055
2013-05-15 0.080 1.166
2013-03-27 0.540 8.090
2012-11-13 0.540 7.644
2012-08-23 0.540 7.688
2012-05-16 0.540 7.888
2012-04-05 0.540 7.851
2011-11-11 0.540 8.224
2011-08-09 0.540 8.836
2011-05-10 0.540 7.813
2011-03-31 0.000 0.000
2010-11-09 0.000 0.000
2010-08-05 0.000 0.000
2010-05-18 0.000 0.000
2010-05-10 0.000 0.000
2010-03-16 0.000 0.000
2009-12-04 0.453 5.643
2009-11-09 0.453 5.473
2009-08-31 0.453 5.870
2009-08-10 0.453 6.566
2009-06-10 0.453 7.782
2009-05-11 0.453 7.828
2009-03-16 0.453 8.374

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Tiptree's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Tiptree's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Tiptree afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tiptree has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TIPT Management

 What is the CEO of Tiptree's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jonathan Ilany
COMPENSATION $2,160,054
AGE 66
TENURE AS CEO 5 years
CEO Bio

Mr. Jonathan Ilany serves as President at Tiptree Asset Management Company, LLC. Mr. Ilany has been the Chief Executive Officer of Tiptree Financial Inc. since November 10, 2015 and served as its Co-Chief Executive Officer since February 23, 2015 until November 10, 2015. Mr. Ilany served as Executive Vice President and Head of Mortgage Finance & Asset Management at Tiptree Financial Inc. from October 1, 2014 to February 23, 2015. He served as the Chief Executive Officer of Angiosonics, Inc. He served as an Executive Vice President and Head of Mortgage Finance & Asset Management at Tiptree Operating Company, LLC since October 1, 2014. He was Partner of Mariner Investment Group from 2000 to 2005. He was responsible for hiring and setting up new trading groups and oversaw risk management. From 1996 to 2000, he was a Private Investor. From 1982 to 1995, he served at Bear Stearns & Co. Before joining Angiosonics, Inc. in 1996, he served as Senior Managing Director of Bear, Stearns & Co. Inc. (“Bear Stearns”) since 1987. From 1980 to 1982, he worked at Merrill Lynch. From 1971 to 1975, he served in the armored corps of the Israeli Defense Forces, where he was a First Lieutenant. He has been the Chairman of Reliance First Capital since 2008. He has been a Director of SimPlayer.com Ltd. since February 2000. He has been a Director of Tiptree Financial Inc. since August 2010. He serves as a Director of Fortegra Financial Corporation. He served as a Director of Bear Stearns & Co. since 1988 until 1995. He served as a Director of Laser Mortgage Management Inc. since 1998. He served as a Board Member of Angiosonics. He served as a Director of Rescap, a subsidiary of Ally Bank from November 2011 to December 2013. He holds B.A. and M.B.A. from the University of San Francisco.

CEO Compensation
  • Jonathan's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jonathan's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Tiptree management team in years:

5
Average Tenure
57
Average Age
  • The average tenure for the Tiptree management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Michael Barnes

TITLE
Executive Chairman of the Board
COMPENSATION
$1M
AGE
52

Jonathan Ilany

TITLE
CEO & Director
COMPENSATION
$2M
AGE
66
TENURE
5 yrs

Sandra Bell

TITLE
Chief Financial Officer
COMPENSATION
$934K
AGE
61
TENURE
4.6 yrs

Neil Rifkind

TITLE
VP, General Counsel & Secretary
COMPENSATION
$934K
AGE
53
TENURE
6.6 yrs

Julia Wyatt

TITLE
Chief Operating Officer
COMPENSATION
$850K
AGE
61
TENURE
5.1 yrs

Tim Schott

TITLE
Principal Accounting Officer
COMPENSATION
$924K
AGE
49

Scott McKinney

TITLE
Director of Financial Planning & Analysis and Investor Relations
Board of Directors Tenure

Average tenure and age of the Tiptree board of directors in years:

4.8
Average Tenure
62
Average Age
  • The tenure for the Tiptree board of directors is about average.
Board of Directors

Michael Barnes

TITLE
Executive Chairman of the Board
COMPENSATION
$1M
AGE
52
TENURE
9.5 yrs

Jonathan Ilany

TITLE
CEO & Director
COMPENSATION
$2M
AGE
66
TENURE
9.5 yrs

John Mack

TITLE
Independent Director
COMPENSATION
$166K
AGE
72
TENURE
4.8 yrs

Paul Friedman

TITLE
Independent Director
COMPENSATION
$161K
AGE
63
TENURE
3.5 yrs

Lesley Goldwasser

TITLE
Lead Director
COMPENSATION
$151K
AGE
57
TENURE
3.5 yrs

Bradley Smith

TITLE
Independent Director
COMPENSATION
$151K
AGE
62
TENURE
6.6 yrs

Dominique Mielle

TITLE
Independent Director
AGE
49
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
27. Aug 19 Buy Michael Barnes Individual 23. Aug 19 26. Aug 19 13,806 $6.74 $91,499
19. Jun 19 Buy Michael Barnes Individual 17. Jun 19 18. Jun 19 18,044 $6.53 $117,359
17. Jun 19 Buy Michael Barnes Individual 13. Jun 19 14. Jun 19 11,533 $6.40 $73,540
04. Jun 19 Buy Jonathan Ilany Individual 03. Jun 19 03. Jun 19 1,950 $6.08 $11,854
09. May 19 Buy Jonathan Ilany Individual 08. May 19 08. May 19 4,500 $5.93 $26,685
X
Management checks
We assess Tiptree's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Tiptree has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TIPT News

Simply Wall St News

Is It Worth Considering Tiptree Inc. (NASDAQ:TIPT) For Its Upcoming Dividend?

Last year Tiptree paid out 96% of its profits as dividends to shareholders, suggesting the dividend is not well covered by earnings. … Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. … Tiptree's dividend payments per share have declined at 9.9% per year on average over the past 10 years, which is uninspiring.

Simply Wall St -

Does Tiptree Inc.'s (NASDAQ:TIPT) CEO Pay Compare Well With Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … View our latest analysis for Tiptree How Does Jonathan Ilany's Compensation Compare With Similar Sized Companies? … We compared the total CEO remuneration paid by Tiptree Inc., and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

Here's What You Should Know About Tiptree Inc.'s (NASDAQ:TIPT) 2.5% Dividend Yield

(NASDAQ:TIPT) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. A 2.5% yield is nothing to get excited about, but investors probably think the long payment history suggests Tiptree has some staying power. The company also bought back stock equivalent to around 10% of market capitalisation this year. Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. Explore this interactive chart for our latest analysis on Tiptree! NasdaqCM:TIPT Historical Dividend Yield, July 12th 2019 Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Although Tiptree pays a dividend, it was loss-making during the past year. When a loss-making financial company pays a dividend, the dividend is not being paid out of profit, which is a concern if the company can't return to operating profitably. Dividend Volatility One of the major risks of relying on dividend income, is the potential for a company to struggle financially and cut its dividend. Not only is your income cut, but the value of your investment declines as well - nasty. Tiptree has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. This dividend has been unstable, which we define as having fallen by at least 20% one or more times over this time. During the past ten-year period, the first annual payment was US$0.45 in 2009, compared to US$0.16 last year. The dividend has shrunk at around 9.9% a year during that period. Tiptree's dividend has been cut sharply at least once, so it hasn't fallen by 9.9% every year, but this is a decent approximation of the long term change. When a company's per-share dividend falls we question if this reflects poorly on either the business or management. Either way, we find it hard to get excited about a company with a declining dividend. Dividend Growth Potential With a relatively unstable dividend, and a poor history of shrinking dividends, it's even more important to see if EPS are growing. It's good to see Tiptree has been growing its earnings per share at 36% a year over the past 5 years. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Tiptree is paying out a dividend despite reporting a loss; clearly a concern. … Next, earnings growth has been good, but unfortunately the dividend has been cut at least once in the past.

Simply Wall St -

Those Who Purchased Tiptree (NASDAQ:TIPT) Shares Five Years Ago Have A 37% Loss To Show For It

See our latest analysis for Tiptree Because Tiptree is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … Over five years, Tiptree grew its revenue at 27% per year. … So you might argue the Tiptree should get more credit for its rather impressive revenue growth over the period.

Simply Wall St -

Do Institutions Own Tiptree Inc. (NASDAQ:TIPT) Shares?

With a market capitalization of US$215m, Tiptree is a small cap stock, so it might not be well known by many institutional investors. … See our latest analysis for Tiptree NasdaqCM:TIPT Ownership Summary, May 23rd 2019 What Does The Institutional Ownership Tell Us About Tiptree? … Insider Ownership Of Tiptree While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

Does Tiptree Inc.'s (NASDAQ:TIPT) CEO Pay Matter?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Jonathan Ilany's Compensation Compare With Similar Sized Companies. … is worth US$210m, and total annual CEO compensation is US$3.7m.

Simply Wall St -

Should You Buy Tiptree Inc. (NASDAQ:TIPT) For Its 2.2% Dividend?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Does Tiptree tick all the boxes of a great dividend stock? … Check out our latest analysis for Tiptree

Simply Wall St -

Do Insiders Own Shares In Tiptree Inc. (NASDAQ:TIPT)?

The big shareholder groups in Tiptree Inc. … With a market capitalization of US$202m, Tiptree is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for Tiptree

Simply Wall St -

Have Insiders Been Buying Tiptree Inc. (NASDAQ:TIPT) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in Tiptree Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

Is Tiptree Inc (NASDAQ:TIPT) A Smart Pick For Income Investors?

Historically, Tiptree Inc (NASDAQ:TIPT) has been paying a dividend to shareholders. … Let's dig deeper into whether Tiptree should have a place in your portfolio. … Check out our latest analysis for Tiptree

Simply Wall St -

TIPT Company Info

Description

Tiptree Inc., through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The company provides credit protection insurance, warranty and service contract products, and niche commercial and consumer insurance programs, as well as offers value-add services, including premium finance and business processing services. It also engages in asset management operations; the provision of mortgage loans for institutional investors; and other investment activities. Tiptree Inc. markets its products through a network of independent insurance brokers and managing general agencies. The company was formerly known as Tiptree Financial Inc. and changed its name to Tiptree Inc. in December 2016. Tiptree Inc. was incorporated in 2007 and is based in New York, New York.

Details
Name: Tiptree Inc.
TIPT
Exchange: NasdaqCM
Founded: 2007
$247,122,253
34,562,553
Website: http://www.tiptreeinc.com
Address: Tiptree Inc.
299 Park Avenue,
13th Floor,
New York,
New York, 10171,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM TIPT Class A Common Stock Nasdaq Capital Market US USD 22. Jun 2007
Number of employees
Current staff
Staff numbers
959
Tiptree employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/20 00:49
End of day share price update: 2020/02/19 00:00
Last earnings filing: 2019/11/06
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.