Tiptree Financial (NASDAQ:TIPT) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Tiptree Financial (NASDAQ:TIPT) from a sell rating to a hold rating in a research report released on Saturday morning.

Separately, 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 data from MarketBeat.com, Tiptree Financial has a consensus rating of “Hold”.

Tiptree Financial Trading Up 1.1%

NASDAQ TIPT opened at $17.77 on Friday. Tiptree Financial has a 1-year low of $15.49 and a 1-year high of $27.41. The stock has a 50-day moving average of $17.79 and a 200-day moving average of $17.30. The firm has a market cap of $667.62 million, a PE ratio of 1.64 and a beta of 0.93.

Tiptree Financial (NASDAQ:TIPT) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $10.30 earnings per share for the quarter. The company had revenue of $3.92 million during the quarter. Tiptree Financial had a return on equity of 0.75% and a net margin of 2.36%.

Tiptree Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 17th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. Tiptree Financial’s dividend payout ratio (DPR) is presently 2.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TIPT. Goldman Sachs Group Inc. raised its holdings in shares of Tiptree Financial by 309.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 403,398 shares of the financial services provider’s stock valued at $7,370,000 after acquiring an additional 304,917 shares in the last quarter. Gabelli Funds LLC lifted its stake in Tiptree Financial by 329.4% in the first quarter. Gabelli Funds LLC now owns 314,668 shares of the financial services provider’s stock worth $5,324,000 after acquiring an additional 241,389 shares during the period. Millennium Management LLC boosted its holdings in Tiptree Financial by 66.6% in the fourth quarter. Millennium Management LLC now owns 531,619 shares of the financial services provider’s stock valued at $9,713,000 after acquiring an additional 212,430 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Tiptree Financial by 175.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 273,061 shares of the financial services provider’s stock valued at $4,620,000 after acquiring an additional 173,774 shares in the last quarter. Finally, Jane Street Group LLC increased its position in Tiptree Financial by 346.1% during the 2nd quarter. Jane Street Group LLC now owns 166,425 shares of the financial services provider’s stock valued at $3,924,000 after purchasing an additional 129,122 shares during the period. Institutional investors own 37.78% of the company’s stock.

About Tiptree Financial

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.