Tiptree Financial (NASDAQ:TIPT) Trading 5.2% Higher - Here's What Happened

Key Points

• Tiptree Financial's stock rose 5.2% to $25.95 amid mid-day trading, down from an average daily volume of 150,803 shares to 55,209 shares traded.
• Wall Street Zen upgraded Tiptree Financial from a "hold" to a "buy" rating, indicating a positive outlook on the company's future performance.
• The company declared a quarterly dividend of $0.06 per share, representing a 0.9% dividend yield and a payout ratio of 19.05%.

Shares of Tiptree Financial Inc. (NASDAQ:TIPT - Get Free Report) were up 5.2% during trading on Friday . The stock traded as high as $25.67 and last traded at $25.95. Approximately 55,209 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 150,803 shares. The stock had previously closed at $24.67.

Analysts Set New Price Targets

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 Stock Down 7.0%

The firm has a market cap of $888.75 million, a PE ratio of 18.81 and a beta of 1.23. The firm's 50 day moving average is $22.19 and its 200-day moving average is $22.45.

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

Tiptree Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid 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 yield of 1.0%. Tiptree Financial's dividend payout ratio (DPR) is currently 19.05%.

Hedge Funds Weigh In On Tiptree Financial

A number of large investors have recently bought and sold shares of TIPT. AlphaQuest LLC purchased a new position in Tiptree Financial during the second quarter worth approximately $35,000. CWM LLC raised its stake in Tiptree Financial by 86.7% during 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 raised its stake in Tiptree Financial by 192.8% during 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 raised its stake in Tiptree Financial by 10,791.3% during 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, Quantbot Technologies LP purchased a new position in shares of Tiptree Financial in the 1st quarter valued at $89,000. Hedge funds and other institutional investors own 37.78% of the company's stock.

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.