2024-03-08 10:39:40 ET
Summary
- Fortegra earned $32.6 million in Q4, bringing the full year earnings to $115 million with a 40% growth rate.
- Tiptree's 76% stake in Fortegra translated to $25.9 million of after tax earnings.
- Tiptree Capital remains quiet, with the mortgage business and investment side showing little activity.
- Stock still has potential to double if Fortegra could ever see a public valuation.
Tiptree Fourth Quarter Review:
Tiptree ( TIPT ) reported its fourth quarter on Wednesday evening (Feb 28th). There were no real surprises, given that Fortegra had given an operational update during its January roadshow for the since-pulled IPO. I had written about the IPO process and its cancellation last month. This update covers Tiptree as a whole....
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For further details see:
Tiptree: No Real Surprises. Stock Is Cheap And Value Keeps Building