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Virtu Financial LLC Purchases New Holdings in Tiptree Financial Inc. (NASDAQ:TIPT)

Tiptree Financial logo with Finance background

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

A number of other institutional investors and hedge funds also recently modified their holdings of TIPT. JPMorgan Chase & Co. increased its position in shares of Tiptree Financial by 76.5% during the fourth 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 during the last quarter. Alliancebernstein L.P. increased its position in shares of Tiptree Financial by 25.0% during 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 last quarter. Wells Fargo & Company MN increased its position in shares of Tiptree Financial by 31.9% during 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 last quarter. Invesco Ltd. increased its position in shares of Tiptree Financial by 395.9% during 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 last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Tiptree Financial in the fourth quarter worth $480,000. 37.78% of the stock is owned by hedge funds and other institutional investors.

Tiptree Financial Price Performance

NASDAQ:TIPT opened at $22.37 on Friday. The business has a fifty day simple moving average of $22.20 and a two-hundred day simple moving average of $21.99. Tiptree Financial Inc. has a 1 year low of $17.07 and a 1 year high of $26.90. The company has a market capitalization of $838.88 million, a P/E ratio of 17.75 and a beta of 1.23.

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

Analysts Set New Price Targets

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

Read Our Latest Analysis on Tiptree Financial

About Tiptree Financial

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TIPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tiptree Financial Inc. (NASDAQ:TIPT - Free Report).

Institutional Ownership by Quarter for Tiptree Financial (NASDAQ:TIPT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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