Heartland Advisors Inc. purchased a new position in Tiptree Financial Inc. (NASDAQ:TIPT – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 400,000 shares of the financial services provider’s stock, valued at approximately $7,168,000.
Other institutional investors have also made changes to their positions in the company. Persistent Asset Partners Ltd bought a new stake in Tiptree Financial in the second quarter valued at about $49,000. State of Wyoming acquired a new position in Tiptree Financial in the first quarter valued at about $61,000. Strs Ohio acquired a new position in Tiptree Financial in the first quarter valued at about $99,000. State of Alaska Department of Revenue boosted its holdings in Tiptree Financial by 230.0% during the fourth quarter. State of Alaska Department of Revenue now owns 6,102 shares of the financial services provider’s stock worth $110,000 after buying an additional 4,253 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Tiptree Financial during the fourth quarter worth about $140,000. 37.78% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on TIPT. Wall Street Zen upgraded Tiptree Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Tiptree Financial in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.
Tiptree Financial Stock Down 1.1%
TIPT opened at $18.12 on Friday. Tiptree Financial Inc. has a 12 month low of $15.49 and a 12 month high of $27.41. The company has a fifty day simple moving average of $17.90 and a 200 day simple moving average of $17.36. The stock has a market cap of $674.79 million, a P/E ratio of 1.68 and a beta of 0.93.
Tiptree Financial (NASDAQ:TIPT – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $10.30 EPS for the quarter. Tiptree Financial had a return on equity of 0.75% and a net margin of 2.36%.The company had revenue of $3.92 million for the quarter.
Tiptree Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.24 annualized dividend and a yield of 1.3%. Tiptree Financial’s payout ratio is 2.22%.
Tiptree Financial Profile
Tiptree Financial, Inc (NASDAQ: TIPT) is a specialty finance company that provides working capital solutions to small and medium-sized enterprises. Through its wholly owned subsidiary, Tiptree Finance LLC, the company focuses on asset-based lending, accounts receivable financing, and supply chain finance. Tiptree’s model is designed to help businesses manage cash flow, support growth initiatives, and optimize their balance sheets by unlocking liquidity tied up in receivables and inventory.
The company’s core services include invoice factoring and purchase order financing.
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