Wall Street Zen Upgrades Tiptree Financial (NASDAQ:TIPT) to Buy

Key Points

• Wall Street Zen has upgraded Tiptree Financial's rating from "hold" to "buy," indicating increased investor confidence in the company's prospects.
• Tiptree Financial shares are currently trading at $20.26, down 2.5%, with a market capitalization of $759.69 million and a P/E ratio of 16.08.
• Institutional investors have shown strong interest in Tiptree, as 37.78% of its shares are currently held by such entities, indicating robust investment activity in the company.

Wall Street Zen upgraded shares of Tiptree Financial (NASDAQ:TIPT - Free Report) from a hold rating to a buy rating in a research report report published on Saturday.

Tiptree Financial Price Performance

TIPT traded up $0.37 during trading on Friday, reaching $20.78. 18,650 shares of the stock traded hands, compared to its average volume of 152,079. The stock has a market cap of $779.06 million, a price-to-earnings ratio of 16.49 and a beta of 1.23. Tiptree Financial has a fifty-two week low of $17.07 and a fifty-two week high of $26.90. The stock's 50-day simple moving average is $22.26 and its two-hundred day simple moving average is $21.91.

Tiptree Financial (NASDAQ:TIPT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $528.75 million during the quarter.

Tiptree Financial Dividend Announcement

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 issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 18th. Tiptree Financial's dividend payout ratio (DPR) is 19.05%.

Hedge Funds Weigh In On Tiptree Financial

Several institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC bought a new position in shares of Tiptree Financial in the second quarter worth about $35,000. CWM LLC increased its stake in shares of Tiptree Financial by 86.7% in the first quarter. CWM LLC now owns 1,535 shares of the financial services provider's stock worth $37,000 after purchasing an additional 713 shares during the period. Group One Trading LLC increased its stake in shares of Tiptree Financial by 192.8% in the fourth quarter. Group One Trading LLC now owns 1,856 shares of the financial services provider's stock worth $39,000 after purchasing an additional 3,856 shares during the period. GAMMA Investing LLC increased its stake in shares of Tiptree Financial by 10,791.3% in the first quarter. GAMMA Investing LLC now owns 2,505 shares of the financial services provider's stock worth $60,000 after purchasing an additional 2,482 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Tiptree Financial in the fourth quarter worth about $83,000. 37.78% of the stock is currently owned by institutional investors.

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.