Tiptree Financial (NASDAQ:TIPT) Stock Price Down 5.7% - What's Next?

Key Points

• Tiptree Financial's shares fell by 5.7%, trading down to $24.05 from a previous close of $25.49, with a decline in trading volume.
• Wall Street analysts upgraded Tiptree Financial from a "hold" to a "buy" rating, indicating potential growth expectations despite the recent drop in stock price.
• The company recently reported quarterly earnings of $0.52 per share and declared a $0.06 quarterly dividend, representing a 1.0% yield with a dividend payout ratio of 19.05%.

Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report) shares were down 5.7% during mid-day trading on Monday . The stock traded as low as $24.30 and last traded at $24.05. Approximately 150,832 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 152,456 shares. The stock had previously closed at $25.49.

Wall Street Analysts Forecast Growth

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

Tiptree Financial Price Performance

The firm has a market cap of $884.63 million, a PE ratio of 18.72 and a beta of 1.23. The stock's fifty day moving average price is $22.37 and its 200-day moving average price is $22.48.

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 net margin of 2.77% and a return on equity of 13.90%. The business had revenue of $528.75 million during the quarter.

Tiptree Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.0%. Tiptree Financial's dividend payout ratio is presently 19.05%.

Institutional Investors Weigh In On Tiptree Financial

Hedge funds have recently modified their holdings of the company. Nuveen LLC acquired a new position in Tiptree Financial in the first quarter valued at about $5,346,000. Jane Street Group LLC lifted its position in shares of Tiptree Financial by 346.1% during the second quarter. Jane Street Group LLC now owns 166,425 shares of the financial services provider's stock worth $3,924,000 after purchasing an additional 129,122 shares in the last quarter. Breach Inlet Capital Management LLC lifted its position in shares of Tiptree Financial by 10.9% during the first quarter. Breach Inlet Capital Management LLC now owns 788,909 shares of the financial services provider's stock worth $19,005,000 after purchasing an additional 77,373 shares in the last quarter. Norges Bank acquired a new stake in shares of Tiptree Financial during the second quarter worth about $1,766,000. Finally, Kennedy Capital Management LLC lifted its position in shares of Tiptree Financial by 15.0% during the second quarter. Kennedy Capital Management LLC now owns 503,923 shares of the financial services provider's stock worth $11,883,000 after purchasing an additional 65,607 shares in the last quarter. Hedge funds and other institutional investors own 37.78% of the company's stock.

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.