Tiptree Financial (NASDAQ:TIPT) CFO Scott Mckinney Acquires 1,232 Shares

Tiptree Financial Inc. (NASDAQ:TIPT) CFO Scott Mckinney purchased 1,232 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $15.98 per share, for a total transaction of $19,687.36. Following the completion of the purchase, the chief financial officer directly owned 4,000 shares of the company’s stock, valued at approximately $63,920. This represents a 44.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Tiptree Financial Stock Performance

Shares of TIPT stock traded up $0.37 on Friday, hitting $16.43. The company had a trading volume of 50,041 shares, compared to its average volume of 215,595. Tiptree Financial Inc. has a twelve month low of $15.85 and a twelve month high of $27.41. The firm has a market cap of $621.38 million, a P/E ratio of 24.52 and a beta of 1.23. The stock’s 50-day moving average is $17.33 and its two-hundred day moving average is $18.80.

Tiptree Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 16th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, March 16th. Tiptree Financial’s dividend payout ratio (DPR) is presently 35.82%.

Hedge Funds Weigh In On Tiptree Financial

A number of hedge funds have recently bought and sold shares of TIPT. Heartland Advisors Inc. grew its stake in shares of Tiptree Financial by 28.1% in the 3rd quarter. Heartland Advisors Inc. now owns 384,155 shares of the financial services provider’s stock worth $7,364,000 after acquiring an additional 84,155 shares in the last quarter. 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 valued at $11,883,000 after purchasing an additional 65,607 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Tiptree Financial by 7.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,770 shares of the financial services provider’s stock worth $1,739,000 after purchasing an additional 4,943 shares during the last quarter. Corsair Capital Management L.P. purchased a new position in Tiptree Financial during the second quarter worth about $354,000. Finally, Norges Bank bought a new stake in Tiptree Financial in the 2nd quarter worth about $1,766,000. 37.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tiptree Financial in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Tiptree Financial Company Profile

Tiptree Financial, Inc (NASDAQ: TIPT) is a specialty finance company that provides working capital solutions to small and medium-sized enterprises. Through its wholly owned subsidiary, Tiptree Finance LLC, the company focuses on asset-based lending, accounts receivable financing, and supply chain finance. Tiptree’s model is designed to help businesses manage cash flow, support growth initiatives, and optimize their balance sheets by unlocking liquidity tied up in receivables and inventory.

The company’s core services include invoice factoring and purchase order financing.