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Tiptree (TIPT) Company Profile

Updated Dec 31, 2019
Tiptree has the following business profile:
Company's Full Name:Tiptree Inc.
Short Name:Tiptree
Trading Ticker Symbol:TIPT
Primary Exchange:NASDAQ
Headquarter City/Country:New York, NY
Primary Industry Sector:Finance
Seconday Sub-sector:Specialty Insurers
Main Business Areas: Finance, Specialty Insurers, Financial Services, Specialty Insurance
Dividend Payments:Dividend History

Market and Trading Information for Tiptree

The following details were available for trading and market data about the stock of Tiptree as of writing:
Current Share Price:$8.14
Previous Year's Closing Price:$5.59
Percentage Price Change (YTD):45.62%
Market Cap:$277.88 million
52-week Price Range:$5.35 - $8.3
Dividend Per Share:$0.15
EPS (TTM):0.39
Price-Earnings (Trailing):20.87
Price-Earnings (Forward):0

Company Profile and Business Description for Tiptree

Tiptree Inc., formerly Tiptree Financial Inc., incorporated on March 19, 2007, is a diversified holding company that acquires and manages controlling interests of operating businesses. The Company conducts its operations through Tiptree Operating Company, LLC (the Operating Company). The Company operates through five segments: insurance and insurance services, specialty finance, real estate, asset management, and corporate and other. The insurance and insurance services segment operates through Fortegra Financial Corporation (Fortegra). The specialty finance segment operates through Siena Capital Finance LLC (Siena) and Luxury Mortgage Corp (Luxury). The real estate segment operates through Care LLC (Care). The asset management segment operations include Telos Asset Management's (TLAM) management of collateralized loan obligations (CLOs) and Muni Capital Management's (MCM) management of Non-Profit Preferred Funding Trust I (NPPF I). The corporate and other segment operations include Tiptree Direct Holdings LLC (TDH) and Muni Funding Company of America LLC (MFCA).

Insurance and Insurance Services

Fortegra is an insurance and insurance services company offering consumer related protection products, including credit insurance, non-standard auto insurance, warranties, service contracts and auto warranty and roadside assistance. Fortegra also offers administration services through a vertically integrated platform and provides fronting services for self-insured clients. Fortegra's products and related services offer protection from life events and uncertainties. Credit insurance and debt protection products offer consumers the option to protect a loan balance in the event of death, disability, job loss or other events that could impair the consumers' ability to repay a debt and damage their credit. Warranty and other service contracts for mobile handsets, furniture and appliances provide consumers protection from product failure and loss. Automotive products protect consumers from mechanical failure and provide roadside assistance when needed. Fortegra's products are marketed under its Fortegra, Life of the South, ProtectCELL, 4Warranty, United Motor Club, Continental Car Club, Auto Knight and Consecta brands. Through these brands, Fortegra delivers credit insurance, debt protection, warranty and other service contracts, motor club solutions, membership plans and other services to installment loan companies, retailers, independent wireless dealers, regional banks, community banks, warranty administrators, automobile dealers, vacation ownership developers and credit unions.

Specialty Finance

Siena is a commercial finance company providing financing solutions to the small and medium sized the United States companies. Siena originates, structures, underwrites and services senior secured asset-based loans for companies operating across a range of industry sectors. Its financing solutions include revolving lines of credit and term loans. Siena also offers a servicing platform, which provides asset based lending solutions for community and regional banks that do not have capacity to underwrite or service asset-based loans. Luxury is a residential mortgage lender that originates loans, including prime jumbo and super jumbo mortgages for sale to institutional investors. The loans are typically sold shortly after origination into a liquid secondary market. Luxury sells all of its loans on a servicing released basis. Luxury offers a range of residential adjustable and fixed rate mortgage products. Luxury uses two production channels to originate or acquire mortgage loans: retail sales offices (retail) and a broker channel (wholesale). In the retail channel, loans are originated by mortgage loan originators employed by Luxury. In the wholesale channel, an unaffiliated bank, mortgage bank or mortgage brokerage company, completes much of the loan paperwork.

Real Estate

Care is a real estate investment company that acquires and owns seniors housing properties. Care's seniors housing communities include senior apartments, independent and assisted living communities, a skilled nursing facility and memory care communities. As of December 31, 2015, Care's portfolio consisted of 24 properties across nine states in the Northeast, Mid-Atlantic and Southern United States. Care's properties are either leased to tenants pursuant to a triple net lease (Triple Net Lease Properties) or owned by Care but managed by a management company pursuant to a management agreement (Managed Properties). As of December 31, 2015, Care's portfolio is consisted of 11 Triple Net Lease Properties and 13 Managed Properties. In Triple Net Lease Properties, Care owns the real estate and enters into a long-term lease with an operator who is responsible for bearing operating costs, including maintenance, utilities, taxes, insurance, repairs and capital improvements. In Managed Properties, Care owns between 60% to 80% of the real estate and the operations with affiliates of the management company owning the remainder.

Asset Management

The Company's asset management segment conducts its operations through Tiptree Asset Management Company, LLC (TAMCO), an investment advisor that is a holding company for asset management subsidiaries, which include Telos and MCM. Telos is an investment manager that establishes and manages investment products for a range of investors, including pension funds, hedge funds and other asset management firms, banks, insurance companies and other types of institutional investors. Its investment products are in the form of CLOs and managed accounts investing in leveraged loans. MCM is a manager of investments in securities exempt from the United States federal income taxes. MCM manages NPPF I, a structured tax-exempt pass-through vehicle. MCM is also the manager of the Company's portfolio of tax exempt securities.

Corporate and Other

TDH holds the Company's principal investments, which consist of CLO subordinated notes, common shares of RAIT Financial Trust (RAIT), an nonperforming residential real estate mortgage loans (NPL) portfolio, risk mitigation transactions, warehouse holdings, holdings in the Star Asia Finance, Limited, Star Asia Opportunity, LLC and Star Asia Opportunity II-LLC (Star Asia Entities) and other corporate investments. MFCA is a specialty finance company that owns and manages a portfolio of non-investment grade and non-rated direct and indirect debt obligations of middle-market tax-exempt borrowers.

The Company competes with The Warranty Group, Inc., Assurant, Inc., eSecuritel Holdings, LLC, Asurion, LLC and AmTrust Financial Services, Inc.

780 3rd Ave Fl 21

Peer / Competitor Companies of Specialty Insurers Sector

Along with Tiptree Inc., the following other peer (competitor) companies also exist within the same Specialty Insurers - Finance sector whose company profile and dividend history is as follows:

▶ Aon PLC (AON): Aon plc, incorporated on December 8, 2011, is a provider of risk management services, insurance and reinsurance brokerage, and human resource (HR) consulting and outsourcing. The Company operates through two ....See Detailed Company Profile  and Dividend History.

▶ Argo International (AGII): Argo Group International Holdings, Ltd., incorporated on June 1, 1999, is an underwriter of specialty insurance and reinsurance products in the property and casualty market. The Company operates through four ....See Detailed Company Profile  and Dividend History.

▶ Argo International (AGIIL): Argo Group International Holdings, Ltd., incorporated on June 1, 1999, is an underwriter of specialty insurance and reinsurance products in the property and casualty market. The Company operates through four ....See Detailed Company Profile  and Dividend History.

▶ Arthur J. Gallagher (AJG): Arthur J. Gallagher & Co., incorporated on March 30, 1972, is engaged in providing insurance brokerage and consulting services, and third-party claims settlement and administration services to both domestic and ....See Detailed Company Profile  and Dividend History.

▶ Brown and Brown (BRO): Brown & Brown, Inc., incorporated on January 2, 1959, is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, ....See Detailed Company Profile  and Dividend History.

▶ CorVel (CRVL): CorVel Corporation (Corvel), incorporated on May 16, 1991, is a provider of workers compensation solutions for employers, third party administrators, insurance companies and government agencies. The Company offers its services ....See Detailed Company Profile  and Dividend History.

▶ eHealth (EHTH): eHealth, Inc., incorporated on February 22, 2002, provides a private online source of health insurance for individuals, families and small businesses. The Company is the parent company of eHealthInsurance, a ....See Detailed Company Profile  and Dividend History.

▶ Erie Indemnity (ERIE): Erie Indemnity Company, incorporated on April 17, 1925, is a management company. The Company serves as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange). The Exchange ....See Detailed Company Profile  and Dividend History.

▶ Fanhua (FANH): Fanhua Inc., formerly CNinsure Inc., incorporated on April 10, 2007, is an independent online-to-offline financial services provider in China. The Company, through its online platforms, offline sales and service network, ....See Detailed Company Profile  and Dividend History.

▶ Fidelity National Financial (FNF): Fidelity National Financial, Inc., together with its subsidiaries, provides various insurance products in the United States. The company operates in Title, and Corporate and Other segments. It offers ....See Detailed Company Profile  and Dividend History.

▶ Fidelity National Financial (FNFV): Fidelity National Financial, Inc. (FNF), incorporated on May 24, 2005, is a holding company. The Company is a provider of title insurance, technology and transaction services to the real estate ....See Detailed Company Profile  and Dividend History.

▶ First American (FAF): First American Financial Corporation, incorporated on January 14, 2008, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services ....See Detailed Company Profile  and Dividend History.

▶ Health Insurance Innovations (HIIQ): Health Insurance Innovations, Inc., incorporated on October 26, 2012, is a developer, distributor and cloud-based administrator of individual and family health insurance plans (IFPs) and supplemental products, which include short-term ....See Detailed Company Profile  and Dividend History.

▶ Investors Title (ITIC): Investors Title Company, incorporated on February 5, 1973, is an insurance holding company. The Companys primary business activity, and its operating segment, is the issuance of residential and commercial title ....See Detailed Company Profile  and Dividend History.

▶ Marsh and McLennan Companies (MMC): Marsh & McLennan Companies, Inc., a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and ....See Detailed Company Profile  and Dividend History.

▶ Patriot National (PN): Patriot National, Inc., incorporated on November 15, 2013, is an independent national provider of technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk and comply with ....See Detailed Company Profile  and Dividend History.

▶ Stewart Information (STC): Stewart Information Services Corporation, incorporated March 25, 1970, is a global real estate services company. The Company is engaged in offering products and services through its direct operations, network of ....See Detailed Company Profile  and Dividend History.

▶ Willis Towers Watson (WLTW): Willis Towers Watson Public Limited Company (Willis Towers Watson), incorporated on September 24, 2009, is a holding company. The Company operates as a global advisory, broking and solutions company. It ....See Detailed Company Profile  and Dividend History.

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