Cubist Systematic Strategies LLC Acquires New Stake in Tiptree Financial Inc. $TIPT

Key Points

• Cubist Systematic Strategies LLC has acquired a new stake in Tiptree Financial Inc., purchasing 26,598 shares valued at approximately $641,000, representing 0.07% of the company's stock.
• Wall Street analysts have upgraded Tiptree Financial's rating from "hold" to "buy," indicating positive expectations for the company's growth.
• Tiptree Financial recently declared a quarterly dividend of $0.06 per share, translating to an annualized dividend yield of 1.0%.

Cubist Systematic Strategies LLC acquired a new stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 26,598 shares of the financial services provider's stock, valued at approximately $641,000. Cubist Systematic Strategies LLC owned 0.07% of Tiptree Financial as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. OneDigital Investment Advisors LLC boosted its holdings in Tiptree Financial by 3.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 16,777 shares of the financial services provider's stock valued at $404,000 after acquiring an additional 543 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tiptree Financial by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,431 shares of the financial services provider's stock valued at $301,000 after acquiring an additional 608 shares during the period. CWM LLC boosted its holdings in Tiptree Financial by 86.7% during the 1st quarter. CWM LLC now owns 1,535 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 713 shares during the period. Royal Bank of Canada boosted its holdings in Tiptree Financial by 8.3% during the 1st quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider's stock valued at $243,000 after acquiring an additional 775 shares during the period. Finally, Trexquant Investment LP boosted its holdings in Tiptree Financial by 16.2% during the 1st quarter. Trexquant Investment LP now owns 15,361 shares of the financial services provider's stock valued at $370,000 after acquiring an additional 2,140 shares during the period. Hedge funds and other institutional investors own 37.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tiptree Financial Stock Up 1.9%

Shares of NASDAQ TIPT opened at $22.95 on Wednesday. The firm has a market cap of $860.63 million, a PE ratio of 18.21 and a beta of 1.23. Tiptree Financial Inc. has a twelve month low of $18.25 and a twelve month high of $26.90. The business has a fifty day simple moving average of $22.14 and a two-hundred day simple moving average of $22.37.

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

Tiptree Financial Announces Dividend

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

Tiptree Financial Company 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.

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