Nuveen LLC Buys New Shares in Tiptree Financial Inc. $TIPT

Key Points

• Nuveen LLC acquired 221,934 shares of Tiptree Financial Inc., valued at approximately $5.35 million, during the first quarter, giving them about 0.60% ownership of the company.
• Tiptree Financial recently announced a quarterly dividend of $0.06 per share, yielding 1.0% annually, with a dividend payout ratio of 19.05%.
• Analysts at Wall Street Zen upgraded Tiptree Financial's rating from "hold" to "buy" in a recent research report.

Nuveen LLC acquired a new stake in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 221,934 shares of the financial services provider's stock, valued at approximately $5,346,000. Nuveen LLC owned 0.60% of Tiptree Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TIPT. Virtu Financial LLC acquired a new position in Tiptree Financial during the first quarter worth about $344,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Tiptree Financial by 32.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,827 shares of the financial services provider's stock worth $1,658,000 after acquiring an additional 16,827 shares during the last quarter. Vanguard Group Inc. raised its position in Tiptree Financial by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,291,675 shares of the financial services provider's stock worth $31,116,000 after acquiring an additional 28,373 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in Tiptree Financial during the first quarter worth about $287,000. Finally, Tectonic Advisors LLC raised its position in Tiptree Financial by 8.2% during the first quarter. Tectonic Advisors LLC now owns 31,545 shares of the financial services provider's stock worth $760,000 after acquiring an additional 2,387 shares during the last quarter. Institutional investors and hedge funds own 37.78% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Tiptree Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd.

Tiptree Financial Stock Down 0.1%

Shares of NASDAQ:TIPT traded down $0.03 during trading on Thursday, reaching $23.54. The stock had a trading volume of 102,688 shares, compared to its average volume of 132,871. The business has a fifty day moving average price of $22.18 and a 200-day moving average price of $22.17. The stock has a market cap of $882.75 million, a P/E ratio of 18.68 and a beta of 1.23. Tiptree Financial Inc. has a fifty-two week low of $18.25 and a fifty-two week high of $26.90.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.52 earnings per share for the quarter. The business had revenue of $528.75 million during the quarter. Tiptree Financial had a net margin of 2.77% and a return on equity of 13.90%.

Tiptree Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, August 18th. Tiptree Financial's payout ratio is presently 19.05%.

Tiptree Financial Profile

Tiptree Inc, through its subsidiaries, provides specialty insurance products and related services primarily in the United States. It operates through two segments: Insurance and Mortgage. The company offers niche; commercial lines insurance products, including professional liability, general liability, contractual liability protection, property and other short-tail, and alternative risks insurance products; and personal lines insurance products, such as credit protection surrounding loan payments.