Added to YB: 2024-01-31
Pitch date: 2024-01-29
TIPT [bullish]
Tiptree Inc.
-12.61%
current return
Author Info
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Company Info
Tiptree Inc. does not have significant operations. Previously, it was engaged in the provision of specialty insurance products.
Market Cap
$595.8M
Pitch Price
$18.98
Price Target
N/A
Dividend
1.53%
EV/EBITDA
-19.86
P/E
-15.13
EV/Sales
-865.49
Sector
Insurance
Category
special_situation
Show full summary:
Tiptree: Fortegra IPO Roadshow Launched, Deal Looks Priced To Perform
TIPT initiates Fortegra IPO: 18M shares at $15-18 (+2.7M greenshoe) via GS/JPM. Priced 11-13.2x '23 adj net income of $115M. Q4 89.8% combined ratio, 30.9% ROAE. TIPT's 48.5M shares worth $727M-$873M (~$30/share). Risks: market instability, holding co discount. Upside: Fortegra growth & performance.
Read full article (3 min)