Virtu Financial LLC Makes New $344,000 Investment in Tiptree Financial Inc. $TIPT

Key Points

• Virtu Financial LLC acquired a new position in Tiptree Financial Inc., purchasing 14,290 shares valued at approximately $344,000 during the first quarter.
• Wall Street analysts upgraded Tiptree Financial's rating from "hold" to "buy" on August 2nd, indicating growing confidence in the company's prospects.
• Tiptree Financial announced a quarterly dividend of $0.06, which will be paid on August 25th, representing a dividend yield of 1.1%.

Virtu Financial LLC acquired a new stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,290 shares of the financial services provider's stock, valued at approximately $344,000.

Several other institutional investors have also made changes to their positions in TIPT. JPMorgan Chase & Co. boosted its position in shares of Tiptree Financial by 76.5% during the 4th quarter. JPMorgan Chase & Co. now owns 139,797 shares of the financial services provider's stock valued at $2,916,000 after acquiring an additional 60,595 shares in the last quarter. Alliancebernstein L.P. grew its position in Tiptree Financial by 25.0% in the fourth quarter. Alliancebernstein L.P. now owns 23,560 shares of the financial services provider's stock valued at $491,000 after acquiring an additional 4,710 shares during the period. Wells Fargo & Company MN grew its position in Tiptree Financial by 31.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,087 shares of the financial services provider's stock valued at $294,000 after acquiring an additional 3,403 shares during the period. Invesco Ltd. grew its position in Tiptree Financial by 395.9% in the fourth quarter. Invesco Ltd. now owns 261,563 shares of the financial services provider's stock valued at $5,456,000 after acquiring an additional 208,814 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Tiptree Financial in the fourth quarter valued at $480,000. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Tiptree Financial Trading Up 0.9%

Shares of TIPT traded up $0.2050 during trading hours on Tuesday, hitting $22.3550. 37,533 shares of the stock traded hands, compared to its average volume of 150,734. Tiptree Financial Inc. has a 1-year low of $17.07 and a 1-year high of $26.90. The firm has a market capitalization of $838.31 million, a PE ratio of 17.74 and a beta of 1.23. The business has a fifty day moving average of $22.18 and a 200-day moving average of $22.04.

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. Tiptree Financial had a return on equity of 13.90% and a net margin of 2.77%.The firm had revenue of $528.75 million for the quarter.

Tiptree Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 18th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.24 annualized dividend and a yield of 1.1%. Tiptree Financial's dividend payout ratio is presently 19.05%.

Analysts Set New Price Targets

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 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.