Breach Inlet Capital Management LLC Buys 77,373 Shares of Tiptree Financial Inc. $TIPT

Key Points

• Breach Inlet Capital Management LLC increased its holdings in Tiptree Financial Inc. by 10.9% during the first quarter, now owning approximately 2.12% of the company, valued at $19 million.
• Tiptree Financial recently announced a quarterly dividend of $0.06 per share, representing an annualized dividend of $0.24 and a dividend yield of 1.0%.
• Wall Street analysts upgraded Tiptree Financial from a "hold" rating to a "buy" rating, indicating a positive outlook for the company's future performance.

Breach Inlet Capital Management LLC increased its stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 788,909 shares of the financial services provider's stock after purchasing an additional 77,373 shares during the quarter. Tiptree Financial accounts for approximately 10.9% of Breach Inlet Capital Management LLC's holdings, making the stock its 4th biggest position. Breach Inlet Capital Management LLC owned approximately 2.12% of Tiptree Financial worth $19,005,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC acquired a new stake in shares of Tiptree Financial during the first quarter worth $424,000. PDT Partners LLC raised its position in Tiptree Financial by 11.6% in the first quarter. PDT Partners LLC now owns 21,694 shares of the financial services provider's stock worth $523,000 after acquiring an additional 2,263 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Tiptree Financial in the first quarter worth $641,000. Royal Bank of Canada raised its position in Tiptree Financial by 8.3% in the first 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 in the last quarter. Finally, Trexquant Investment LP raised its position in Tiptree Financial by 16.2% in the first quarter. Trexquant Investment LP now owns 15,361 shares of the financial services provider's stock worth $370,000 after acquiring an additional 2,140 shares in the last quarter. 37.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Tiptree Financial Trading Down 3.0%

Shares of TIPT stock traded down $0.70 during mid-day trading on Friday, reaching $22.64. The stock had a trading volume of 161,778 shares, compared to its average volume of 124,487. Tiptree Financial Inc. has a 12-month low of $18.25 and a 12-month high of $26.90. The company has a market cap of $849 million, a P/E ratio of 17.97 and a beta of 1.23. The business has a 50-day simple moving average of $22.18 and a 200 day simple moving average of $22.33.

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

Tiptree Financial Dividend Announcement

The company 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. The ex-dividend date was Monday, August 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.1%. Tiptree Financial's dividend payout ratio (DPR) is currently 19.05%.

About Tiptree Financial

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.