78,289 Shares in Tiptree Financial Inc. $TIPT Purchased by Gabelli Funds LLC

Gabelli Funds LLC bought a new position in Tiptree Financial Inc. (NASDAQ:TIPT) in the third quarter, HoldingsChannel reports. The fund bought 78,289 shares of the financial services provider’s stock, valued at approximately $1,501,000.

Other large investors have also recently made changes to their positions in the company. Heartland Advisors Inc. raised its stake in Tiptree Financial by 28.1% during the 3rd quarter. Heartland Advisors Inc. now owns 384,155 shares of the financial services provider’s stock valued at $7,364,000 after buying an additional 84,155 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of Tiptree Financial by 15.0% during the 2nd quarter. Kennedy Capital Management LLC now owns 503,923 shares of the financial services provider’s stock valued at $11,883,000 after purchasing an additional 65,607 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Tiptree Financial by 7.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,770 shares of the financial services provider’s stock valued at $1,739,000 after buying an additional 4,943 shares during the last quarter. Corsair Capital Management L.P. bought a new position in Tiptree Financial in the 2nd quarter worth $354,000. Finally, Norges Bank purchased a new position in shares of Tiptree Financial during the 2nd quarter valued at about $1,766,000. 37.78% of the stock is currently owned by institutional investors.

Tiptree Financial Stock Performance

Shares of NASDAQ:TIPT opened at $16.14 on Thursday. The firm has a market cap of $610.41 million, a price-to-earnings ratio of 24.09 and a beta of 1.23. The firm has a fifty day moving average price of $17.38 and a 200 day moving average price of $18.82. Tiptree Financial Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.41.

Tiptree Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 16th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, March 16th. Tiptree Financial’s payout ratio is currently 35.82%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Tiptree Financial in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

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.