Martingale Asset Management L P Makes New $294,000 Investment in Tiptree Financial Inc. $TIPT

Key Points

• Martingale Asset Management made a new investment of approximately $294,000 in Tiptree Financial Inc., acquiring 12,210 shares in the first quarter.
• Other institutional investors, including Nuveen LLC and Vanguard Group Inc., also increased their stakes in Tiptree Financial, indicating growing institutional interest in the company.
• On August 2nd, Wall Street Zen upgraded Tiptree Financial from a "hold" to a "buy" rating, possibly reflecting positive sentiment in the market towards the stock.

Martingale Asset Management L P bought a new position in Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,210 shares of the financial services provider's stock, valued at approximately $294,000.

A number of other institutional investors and hedge funds have also modified their holdings of TIPT. Nuveen LLC bought a new stake in shares of Tiptree Financial in the 1st quarter worth $5,346,000. Raymond James Financial Inc. bought a new stake in shares of Tiptree Financial in the 4th quarter worth $642,000. Vanguard Group Inc. increased its holdings in shares of Tiptree Financial by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,291,675 shares of the financial services provider's stock worth $31,116,000 after purchasing an additional 28,373 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Tiptree Financial in the first quarter worth $587,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Tiptree Financial in the fourth quarter worth $480,000. 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 report on Saturday, August 2nd.

Tiptree Financial Stock Performance

NASDAQ TIPT opened at $23.01 on Tuesday. The company has a market capitalization of $862.88 million, a PE ratio of 18.26 and a beta of 1.23. The business's fifty day moving average is $22.14 and its 200 day moving average is $22.13. Tiptree Financial Inc. has a fifty-two week low of $18.25 and a fifty-two week high of $26.90.

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

Tiptree Financial Dividend Announcement

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