Nuveen LLC Takes Position 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 purchased a new position in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 221,934 shares of the financial services provider's stock, valued at approximately $5,346,000. Nuveen LLC owned about 0.60% of Tiptree Financial at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Tiptree Financial during the first quarter valued at $344,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Tiptree Financial by 32.4% in 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 period. Vanguard Group Inc. boosted its stake in shares of Tiptree Financial by 2.2% in 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 period. Kingsview Wealth Management LLC bought a new position in shares of Tiptree Financial in the first quarter worth about $287,000. Finally, Tectonic Advisors LLC boosted its stake in shares of Tiptree Financial by 8.2% in 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 period. Hedge funds and other institutional investors own 37.78% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Tiptree Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd.

Tiptree Financial Stock Down 0.4%

Tiptree Financial stock traded down $0.09 during midday trading on Friday, reaching $23.45. 73,738 shares of the stock traded hands, compared to its average volume of 130,265. The stock's fifty day moving average is $22.19 and its 200-day moving average is $22.22. Tiptree Financial Inc. has a 12 month low of $18.25 and a 12 month high of $26.90. The stock has a market cap of $879.38 million, a P/E ratio of 18.61 and a beta of 1.23.

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

Tiptree Financial Dividend Announcement

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

About Tiptree Financial

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.