Scott Mckinney Buys 2,600 Shares of Tiptree Financial (NASDAQ:TIPT) Stock

Tiptree Financial Inc. (NASDAQ:TIPT) CFO Scott Mckinney purchased 2,600 shares of Tiptree Financial stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $16.15 per share, for a total transaction of $41,990.00. Following the completion of the transaction, the chief financial officer directly owned 2,768 shares in the company, valued at $44,703.20. This represents a 1,547.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Tiptree Financial Stock Up 1.2%

NASDAQ TIPT opened at $16.25 on Friday. Tiptree Financial Inc. has a fifty-two week low of $15.85 and a fifty-two week high of $27.41. The business has a 50 day moving average price of $17.30 and a two-hundred day moving average price of $18.73. The stock has a market cap of $614.58 million, a PE ratio of 24.25 and a beta of 1.23.

Tiptree Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

TIPT has been the topic of several analyst reports. Wall Street Zen downgraded shares of Tiptree Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Tiptree Financial in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Tiptree Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. SkyView Investment Advisors LLC grew its position in shares of Tiptree Financial by 1.9% during the second quarter. SkyView Investment Advisors LLC now owns 27,280 shares of the financial services provider’s stock worth $669,000 after buying an additional 508 shares in the last quarter. Creative Planning raised its holdings in Tiptree Financial by 6.0% in the third quarter. Creative Planning now owns 10,667 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 605 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Tiptree Financial by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,055 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 624 shares in the last quarter. Royal Bank of Canada boosted its stake in Tiptree Financial by 8.3% during the 1st quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 775 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Tiptree Financial by 0.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 125,921 shares of the financial services provider’s stock valued at $2,414,000 after acquiring an additional 982 shares during the last quarter. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

About Tiptree Financial

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.