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

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 report published on Saturday.

Tiptree Financial Stock Up 0.9%

Shares of NASDAQ:TIPT traded up $0.19 during midday trading on Friday, hitting $20.41. The stock had a trading volume of 119,284 shares, compared to its average volume of 152,991. The company's 50-day moving average price is $22.30 and its 200-day moving average price is $21.92. Tiptree Financial has a fifty-two week low of $17.07 and a fifty-two week high of $26.90. The company has a market capitalization of $765.31 million, a P/E ratio of 16.20 and a beta of 1.23.

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

Tiptree Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 18th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, August 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. Tiptree Financial's dividend payout ratio is presently 19.05%.

Institutional Investors Weigh In On Tiptree Financial

A number of hedge funds have recently added to or reduced their stakes in TIPT. Teacher Retirement System of Texas lifted its position in Tiptree Financial by 23.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 50,340 shares of the financial services provider's stock valued at $1,187,000 after acquiring an additional 9,630 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Tiptree Financial during the 2nd quarter worth $35,000. Sanders Morris Harris LLC raised its position in shares of Tiptree Financial by 50.0% in the second quarter. Sanders Morris Harris LLC now owns 30,000 shares of the financial services provider's stock valued at $707,000 after purchasing an additional 10,000 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Tiptree Financial by 28.4% in the first quarter. Voya Investment Management LLC now owns 27,981 shares of the financial services provider's stock worth $674,000 after acquiring an additional 6,186 shares during the period. Finally, Strs Ohio bought a new stake in shares of Tiptree Financial during the first quarter valued at about $99,000. 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.