Tiptree
Redeploys proceeds from its insurance-unit sale into new controlling-interest financial acquisitions.
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Profile
Builds long-term value by acquiring controlling stakes in insurance, specialty finance and asset-management businesses, then compounding them as an owner-operator rather than a passive investor. Having sold its specialty-insurance business and with a mortgage-lending unit's sale pending, it is redeploying the proceeds into new controlling-interest acquisitions in insurance services, asset management and specialty finance.
Founded in 2007 as a private permanent-capital vehicle before listing on Nasdaq in 2013, it built its record acquiring controlling stakes in insurance, specialty finance and asset-management businesses and running them as an owner-operator, completing roughly 20 acquisitions since inception.
Its largest holding, a specialty-insurance and warranty business, was sold in 2026, with a residential-mortgage unit's sale pending. What remains is a thin platform: an internal asset-management arm, a small headquarters team, and cash and liquid securities awaiting redeployment.
Sale proceeds are earmarked for debt repayment, buybacks, dividends and new controlling-interest acquisitions in insurance services, asset management and specialty finance rather than a one-time shareholder payout. Holding mostly cash and government securities while it searches for targets subjects it to Investment Company Act rules limiting how long an operating business can stay primarily an investment portfolio.
Company facts
Key statistics
Year to date +2.4% · Average volume (30d) 216.3K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | — | −$0.17 | — | — | $3.9M | — | +2.27% |
| Apr 30, 2026Q1 FY26 | — | −$0.19 | — | — | $705.0K | — | −0.70% |
| Mar 6, 2026Q4 FY25 | — | −$0.25 | — | — | −$72.0K | — | −4.94% |
| Oct 31, 2025Q3 FY25 | — | $0.71 | — | — | $523.4M | — | +3.33% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $496.7M | $527.0M | $523.4M | −$1.55B | $7.5M | $3.9M | |
| Gross profit | $287.4M | $300.5M | $161.2M | −$748.6M | $705.0K | $3.9M | |
| Operating income | $25.4M | $52.7M | $38.3M | −$163.1M | −$8.3M | −$6.5M | |
| Net income | $5.6M | $19.0M | $6.4M | $3.9M | $14.2M | $389.2M | |
| Diluted EPS | $0.13 | $0.37 | $0.13 | $0.30 | −$0.19 | $10.30 | |
| Gross margin | 57.9% | 57.0% | 30.8% | — | 9.4% | 100.0% | |
| Operating margin | 5.1% | 10.0% | 7.3% | — | -111.0% | -166.0% |
Fiscal years (4-quarter sums)FY21 $1.20B · FY22 $1.40B · FY23 $1.65B · FY24 $2.05B · FY25 $488.0K
Revenue by product · FY24
Balance sheet, Jun 30, 2026Cash & short-term investments $1.11B · Total debt $7.6M · Total assets $1.13B · Shareholders' equity $907.1M
Dividends
Raised for 10 straight years — most recently to $0.06 from $0.05 in Mar 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Aug 24 | $0.06 | |
| May 18, 2026 | May 18 | May 26 | $0.06 | |
| Mar 16, 2026 | Mar 16 | Mar 23 | $0.06 | |
| Nov 17, 2025 | Nov 17 | Nov 24 | $0.06 | |
| Aug 18, 2025 | Aug 18 | Aug 25 | $0.06 | |
| May 12, 2025 | May 12 | May 19 | $0.06 | |
| Mar 10, 2025 | Mar 10 | Mar 17 | $0.06 | |
| Dec 11, 2024 | Dec 11 | Dec 19 | $0.25 | special dividend |
Ownership
Shares outstanding 37.24M · Float 22.77M · 61.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Barnes Michael Gene | 10.44M | 27.31% | 13D | Mar 12, 2026 |
| Inayatullah Arif | 3.39M | 8.97% | 13D | Sep 30, 2025 |
| Dimensional Fund Advisors LP | 2.21M | 5.94% | 13F | Aug 11, 2026 |
| John Conlin | 1.91M | 5.10% | 13D | Nov 17, 2025 |
| BlackRock, Inc. | 1.88M | 5.00% | 13G | Jul 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 27, 2026 | Jonathan Ilany | director | +990 | $17.45 |
| Mar 11, 2026 | Scott T. McKinney | officer: Chief Financial Officer | +2,600 | $16.15 |
| Mar 12, 2026 | Scott T. McKinney | officer: Chief Financial Officer | +1,232 | $15.98 |
| Nov 7, 2025 | Dominique Mielle | director | +5,500 | $18.29 |
Peers
- Cannae
Permanent-capital holding redeploying proceeds into private control stakes.
- Compass Diversified
Middle-market permanent-capital holding across consumer and industrial peers.
- Loews
Diversified holding: CNA Financial insurance, energy, packaging, hotels.
- Kingsway Financial Services
Search-fund holding acquiring B2B services and extended-warranty businesses.
- Boston Omaha
Small-cap holding with insurance, billboards, broadband, and asset management.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Tiptree | $18.45 | −0.16% | $687.1M | 1.8 | — | — | −99.3% |
| Cannae | $15.64 | 0.00% | $687.2M | — | — | 1.7 | −7.3% |
| Compass Diversified | $11.45 | 0.00% | $861.5M | — | 19.6 | 0.5 | — |
| Loews | $109.72 | −0.04% | $22.58B | 13.5 | — | 1.2 | +5.8% |
| Kingsway Financial Services | $10.23 | −0.10% | $292.8M | — | — | 1.9 | +38.9% |
| Boston Omaha | $13.85 | 0.00% | $418.5M | — | — | 3.8 | −21.3% |
| Median | 13.5 | 19.6 | 1.7 | −0.7% |