55,801 Shares in Tiptree Financial Inc. $TIPT Purchased by Raffles Associates LP

Raffles Associates LP bought a new stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 55,801 shares of the financial services provider’s stock, valued at approximately $1,000,000. Tiptree Financial accounts for about 0.8% of Raffles Associates LP’s investment portfolio, making the stock its 25th largest position. Raffles Associates LP owned 0.15% of Tiptree Financial at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Quantbot Technologies LP bought a new position in shares of Tiptree Financial during the 2nd quarter worth approximately $33,000. Persistent Asset Partners Ltd purchased a new stake in Tiptree Financial during the second quarter valued at approximately $49,000. State of Wyoming acquired a new stake in Tiptree Financial in the first quarter valued at approximately $61,000. Strs Ohio acquired a new stake in Tiptree Financial in the first quarter valued at approximately $99,000. Finally, Los Angeles Capital Management LLC purchased a new position in Tiptree Financial in the fourth quarter worth $140,000. Institutional investors own 37.78% of the company’s stock.

Tiptree Financial Trading Down 0.8%

NASDAQ:TIPT opened at $18.29 on Friday. The company has a market cap of $681.12 million, a PE ratio of 1.69 and a beta of 0.93. Tiptree Financial Inc. has a twelve month low of $15.49 and a twelve month high of $27.41. The company’s 50 day moving average is $17.96 and its two-hundred day moving average is $17.37.

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

Tiptree Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 17th. Tiptree Financial’s dividend payout ratio is presently 2.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Tiptree Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded Tiptree Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

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.