BlackRock Inc. Purchases New Holdings in Tiptree Financial Inc. $TIPT

Key Points

• BlackRock acquired 2.17 million shares of Tiptree Financial in the second quarter, worth approximately $38.9 million and representing a 5.78% stake. Other institutional investors also increased their holdings, with institutions collectively owning 37.78% of the company.
• Analyst sentiment remains cautious but improved slightly: Weiss Ratings raised its rating from “hold (c)” to “hold (c+),” while Wall Street Zen upgraded the stock from “sell” to “hold.” MarketBeat reports a consensus “Hold” rating.
• Tiptree shares opened at $18.32, compared with a 52-week range of $15.49 to $27.41. The company recently paid a quarterly dividend of $0.06 per share, equivalent to an annualized $0.24 dividend and a 1.3% yield.

BlackRock Inc. acquired a new position in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,169,681 shares of the financial services provider's stock, valued at approximately $38,881,000. BlackRock Inc. owned 5.78% of Tiptree Financial at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TIPT. Gabelli Funds LLC grew its stake in shares of Tiptree Financial by 329.4% during the first quarter. Gabelli Funds LLC now owns 314,668 shares of the financial services provider's stock valued at $5,324,000 after buying an additional 241,389 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Tiptree Financial by 143.0% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 62,865 shares of the financial services provider's stock worth $1,064,000 after acquiring an additional 36,990 shares during the last quarter. Sei Investments Co. boosted its holdings in Tiptree Financial by 98.8% during the 1st quarter. Sei Investments Co. now owns 78,691 shares of the financial services provider's stock valued at $1,331,000 after acquiring an additional 39,114 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Tiptree Financial by 175.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 273,061 shares of the financial services provider's stock valued at $4,620,000 after acquiring an additional 173,774 shares during the period. Finally, Gamco Investors INC. ET AL bought a new position in Tiptree Financial in the 1st quarter valued at $558,000. Hedge funds and other institutional investors own 37.78% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings upgraded Tiptree Financial from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 24th. Wall Street Zen upgraded shares of Tiptree Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Tiptree Financial Stock Performance

NASDAQ:TIPT opened at $18.32 on Wednesday. Tiptree Financial Inc. has a one year low of $15.49 and a one year high of $27.41. The firm has a market cap of $682.24 million, a P/E ratio of 1.69 and a beta of 0.93. The firm has a 50-day simple moving average of $18.02 and a 200-day simple moving average of $17.39.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $10.30 earnings per share (EPS) for the quarter. The firm 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 announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, August 17th. This represents a $0.24 dividend on an annualized basis and a yield of 1.3%. Tiptree Financial's dividend payout ratio is currently 2.22%.

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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