Tiptree Financial (NASDAQ:TIPT) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings reaffirmed 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, Tiptree Financial has an average rating of “Hold”.

Tiptree Financial Price Performance

NASDAQ TIPT opened at $17.67 on Friday. The stock’s 50 day simple moving average is $17.80 and its 200-day simple moving average is $17.30. The company has a market cap of $663.86 million, a PE ratio of 1.63 and a beta of 0.93. Tiptree Financial has a 1-year low of $15.49 and a 1-year high of $27.41.

Tiptree Financial (NASDAQ:TIPT) last issued 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 firm had revenue of $3.92 million during the quarter.

Tiptree Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, August 17th. Tiptree Financial’s payout ratio is currently 2.22%.

Institutional Investors Weigh In On Tiptree Financial

A number of large investors have recently made changes to their positions in TIPT. Royal Bank of Canada lifted its position in Tiptree Financial by 8.3% during the first quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider’s stock worth $243,000 after buying an additional 775 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Tiptree Financial in the 1st quarter valued at $424,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tiptree Financial by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,055 shares of the financial services provider’s stock valued at $363,000 after buying an additional 624 shares in the last quarter. Millennium Management LLC grew its holdings in Tiptree Financial by 43.3% in the 1st quarter. Millennium Management LLC now owns 167,964 shares of the financial services provider’s stock valued at $4,046,000 after buying an additional 50,738 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Tiptree Financial by 1.9% in the 1st quarter. Empowered Funds LLC now owns 120,640 shares of the financial services provider’s stock worth $2,906,000 after acquiring an additional 2,227 shares during the last quarter. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

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.