Raffles Associates LP Makes New Investment in Tiptree Financial Inc. $TIPT

Key Points

• Raffles Associates LP acquired 55,801 Tiptree Financial shares worth approximately $1 million, giving it a 0.15% stake and making TIPT 0.9% of its portfolio. Institutional investors collectively own 37.78% of the company.
• Tiptree Financial reported quarterly earnings of $10.30 per share on $3.92 million in revenue. The stock opened at $18.40, compared with a 52-week range of $15.49 to $27.41.
• The company declared a quarterly dividend of $0.06 per share, equating to an annualized dividend of $0.24 and a 1.3% yield. Analysts maintain a consensus “Hold” rating.

Raffles Associates LP purchased a new position in shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 55,801 shares of the financial services provider's stock, valued at approximately $1,000,000. Tiptree Financial comprises 0.9% of Raffles Associates LP's investment portfolio, making the stock its 23rd largest holding. Raffles Associates LP owned 0.15% of Tiptree Financial at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TIPT. SkyView Investment Advisors LLC increased its position in Tiptree Financial by 1.9% in the second quarter. SkyView Investment Advisors LLC now owns 27,280 shares of the financial services provider's stock worth $669,000 after buying an additional 508 shares during the last quarter. Creative Planning grew its stake in shares of Tiptree Financial by 6.0% during the 3rd quarter. Creative Planning now owns 10,667 shares of the financial services provider's stock worth $204,000 after acquiring an additional 605 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tiptree Financial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,055 shares of the financial services provider's stock worth $363,000 after acquiring an additional 624 shares during the period. Royal Bank of Canada increased its holdings in Tiptree Financial by 8.3% in the 1st quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider's stock worth $243,000 after acquiring an additional 775 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Tiptree Financial by 0.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 125,921 shares of the financial services provider's stock worth $2,414,000 after acquiring an additional 982 shares during the last quarter. Hedge funds and other institutional investors own 37.78% of the company's stock.

Tiptree Financial Stock Performance

NASDAQ TIPT opened at $18.40 on Wednesday. The company has a fifty day moving average of $17.93 and a 200-day moving average of $17.36. Tiptree Financial Inc. has a 52-week low of $15.49 and a 52-week high of $27.41. The company has a market capitalization of $685.22 million, a P/E ratio of 1.70 and a beta of 0.93.

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. The company had revenue of $3.92 million for the quarter. Tiptree Financial had a return on equity of 0.75% and a net margin of 2.36%.

Tiptree Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 17th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.3%. Tiptree Financial's dividend payout ratio (DPR) is 2.22%.

Analyst Ratings Changes

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

About Tiptree Financial

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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