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

Raffles Associates LP bought a new position in Tiptree Financial Inc. (NASDAQ:TIPT) during the 2nd quarter, Holdings Channel.com reports. The firm bought 55,801 shares of the financial services provider’s stock, valued at approximately $1,000,000. Tiptree Financial accounts for about 0.9% of Raffles Associates LP’s portfolio, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Tiptree Financial during the 2nd quarter valued at $33,000. Persistent Asset Partners Ltd bought a new position in shares of Tiptree Financial during the second quarter valued at about $49,000. State of Wyoming purchased a new stake in shares of Tiptree Financial during the first quarter worth about $61,000. Strs Ohio bought a new stake in shares of Tiptree Financial in the first quarter worth about $99,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Tiptree Financial in the fourth quarter worth about $140,000. 37.78% of the stock is currently owned by institutional investors.

Tiptree Financial Stock Down 0.8%

TIPT opened at $18.40 on Wednesday. Tiptree Financial Inc. has a 52 week low of $15.49 and a 52 week high of $27.41. The stock has a market cap of $685.22 million, a PE ratio of 1.70 and a beta of 0.93. The business has a 50 day moving average of $17.93 and a 200-day moving average of $17.36.

Tiptree Financial (NASDAQ:TIPT) last announced its quarterly earnings data 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 business had revenue of $3.92 million during the quarter.

Tiptree Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. Tiptree Financial’s dividend payout ratio (DPR) is currently 2.22%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TIPT. Weiss Ratings raised Tiptree Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Wall Street Zen raised Tiptree Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average 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.