Tiptree Financial (NASDAQ:TIPT) Reaches New 52-Week Low – Here’s What Happened

Tiptree Financial Inc. (NASDAQ:TIPT)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $15.82 and last traded at $15.8610, with a volume of 172093 shares changing hands. The stock had previously closed at $16.17.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Tiptree Financial in a research note on Monday, December 29th. Wall Street Zen cut Tiptree Financial from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Tiptree Financial Stock Performance

The company has a quick ratio of 6.45, a current ratio of 6.45 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $17.23 and a 200-day moving average price of $18.59. The firm has a market cap of $594.08 million, a price-to-earnings ratio of 23.32 and a beta of 1.23.

Tiptree Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Monday, March 16th will be given 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 35.82%.

Insider Buying and Selling

In other news, CFO Scott T. Mckinney acquired 2,600 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was bought at an average price of $16.15 per share, for a total transaction of $41,990.00. Following the transaction, the chief financial officer owned 2,768 shares in the company, valued at $44,703.20. This represents a 1,547.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 32.69% of the company’s stock.

Institutional Trading of Tiptree Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Tiptree Financial by 8.3% during the first quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 775 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Tiptree Financial in the 1st quarter valued at approximately $424,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Tiptree Financial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,055 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 624 shares during the period. Millennium Management LLC increased its position in Tiptree Financial by 43.3% during the 1st quarter. Millennium Management LLC now owns 167,964 shares of the financial services provider’s stock worth $4,046,000 after purchasing an additional 50,738 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Tiptree Financial by 1.9% during the 1st quarter. Empowered Funds LLC now owns 120,640 shares of the financial services provider’s stock worth $2,906,000 after buying an additional 2,227 shares in the last quarter. Hedge funds and other institutional investors own 37.78% of the company’s stock.

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.