Tiptree Financial (NASDAQ:TIPT) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Tiptree Financial (NASDAQ:TIPT) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings downgraded Tiptree Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Tiptree Financial has a consensus rating of “Hold”.

Tiptree Financial Price Performance

Shares of Tiptree Financial stock opened at $17.59 on Friday. Tiptree Financial has a one year low of $15.49 and a one year high of $19.33. The firm has a market capitalization of $655.05 million, a price-to-earnings ratio of 1.63 and a beta of 0.95. The business has a 50-day simple moving average of $17.42 and a 200 day simple moving average of $17.38.

Tiptree Financial (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.14 earnings per share for the quarter. The firm had revenue of $11.05 million for the quarter.

Tiptree Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, November 16th. This represents a $0.24 annualized dividend and a yield of 1.4%. Tiptree Financial’s dividend payout ratio is presently 2.22%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TIPT. Bank of New York Mellon Corp acquired a new position in Tiptree Financial during the 2nd quarter valued at about $1,846,000. BlackRock Inc. bought a new stake in Tiptree Financial during the 2nd quarter worth approximately $38,881,000. Empowered Funds LLC bought a new stake in Tiptree Financial during the 2nd quarter worth approximately $2,297,000. Raffles Associates LP bought a new position in shares of Tiptree Financial in the second quarter valued at approximately $1,000,000. Finally, Gabelli Funds LLC lifted its holdings in shares of Tiptree Financial by 329.4% in the first quarter. Gabelli Funds LLC now owns 314,668 shares of the financial services provider’s stock valued at $5,324,000 after purchasing an additional 241,389 shares in the last quarter. 37.78% of the stock is owned by institutional investors.

Tiptree Financial Company Profile

Tiptree Inc (NASDAQ: TIPT) is a diversified holding company focused primarily on insurance and specialty finance. Through its insurance operations, the company provides specialty property and casualty insurance products, warranty and service contract programs, and related risk-management solutions.

Tiptree’s insurance business, operated primarily through Fortegra, serves consumers, businesses, retailers, manufacturers, and other distribution partners. Its offerings include specialty insurance, credit-related protection, motor vehicle products, travel protection, and extended service contracts.