Bank of New York Mellon Corp Invests $1.85 Million in Tiptree Financial Inc. $TIPT

Key Points

• Bank of New York Mellon acquired 103,019 shares of Tiptree Financial valued at approximately $1.85 million, representing about 0.27% of the company. Institutional investors collectively own 37.78% of Tiptree’s stock.
• TIPT opened at $17.97, with a market capitalization of approximately $669 million. The stock has traded between $15.49 and $27.41 over the past year and has a current average analyst rating of “Hold.”
• Tiptree declared a quarterly dividend of $0.06 per share, equivalent to $0.24 annually and a 1.3% yield. The company reported quarterly revenue of $3.92 million and earnings per share of $10.30.

Bank of New York Mellon Corp acquired a new position in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 103,019 shares of the financial services provider's stock, valued at approximately $1,846,000. Bank of New York Mellon Corp owned approximately 0.27% of Tiptree Financial as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. State of Wyoming bought a new position in Tiptree Financial in the 1st quarter worth about $61,000. Strs Ohio bought a new position in shares of Tiptree Financial in the first quarter worth approximately $99,000. Los Angeles Capital Management LLC bought a new position in shares of Tiptree Financial in the fourth quarter worth approximately $140,000. Militia Capital Partners LP bought a new position in shares of Tiptree Financial in the third quarter worth approximately $196,000. Finally, GSA Capital Partners LLP purchased a new stake in Tiptree Financial in the second quarter valued at approximately $200,000. Institutional investors own 37.78% of the company's stock.

Tiptree Financial Stock Performance

TIPT stock opened at $17.97 on Wednesday. Tiptree Financial Inc. has a one year low of $15.49 and a one year high of $27.41. The company has a market capitalization of $669.20 million, a PE ratio of 1.66 and a beta of 0.93. The company's 50 day moving average price is $18.09 and its two-hundred day moving average price is $17.42.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last released its earnings results on Wednesday, July 29th. The financial services provider reported $10.30 EPS for the quarter. The company had revenue of $3.92 million for the quarter. Tiptree Financial had a net margin of 2.36% and a return on equity of 0.75%.

Tiptree Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were issued a $0.06 dividend. The ex-dividend date was Monday, August 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.3%. Tiptree Financial's payout ratio is currently 2.22%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TIPT. Wall Street Zen upgraded shares of Tiptree Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of Tiptree Financial from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

Tiptree Financial Profile

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.

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