Heartland Advisors Inc. Acquires Shares of 400,000 Tiptree Financial Inc. $TIPT

Key Points

• Heartland Advisors acquired 400,000 shares of Tiptree Financial during the second quarter, valued at approximately $7.17 million and representing about 1.07% of the company. Institutional investors collectively own 37.78% of TIPT.
• Analyst sentiment remains neutral: Wall Street Zen upgraded the stock from “sell” to “hold,” while Weiss Ratings maintained a “hold” rating. The stock has an average “Hold” rating.
• Tiptree reported quarterly earnings of $10.30 per share and declared a quarterly dividend of $0.06 per share, equivalent to a $0.24 annualized payout and a 1.3% yield.

Heartland Advisors Inc. acquired a new position in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 400,000 shares of the financial services provider's stock, valued at approximately $7,168,000. Heartland Advisors Inc. owned approximately 1.07% of Tiptree Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several research firms have recently commented on TIPT. Wall Street Zen raised shares of Tiptree Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings restated a "hold (c)" rating on shares of Tiptree Financial in a research report on Wednesday, July 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold".

Tiptree Financial Stock Down 1.1%

Tiptree Financial stock opened at $18.12 on Friday. The business's 50-day simple moving average is $17.90 and its 200 day simple moving average is $17.36. The stock has a market cap of $674.79 million, a price-to-earnings ratio of 1.68 and a beta of 0.93. Tiptree Financial Inc. has a 12-month low of $15.49 and a 12-month high of $27.41.

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

Tiptree Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 17th will be given a dividend of $0.06 per share. The ex-dividend date is 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%.

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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