Tiptree Financial Inc. $TIPT Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT) by 25.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 151,279 shares of the financial services provider’s stock after selling 50,592 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tiptree Financial were worth $2,900,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TIPT. Tudor Investment Corp ET AL lifted its holdings in shares of Tiptree Financial by 221.0% during the third quarter. Tudor Investment Corp ET AL now owns 80,753 shares of the financial services provider’s stock valued at $1,548,000 after purchasing an additional 55,599 shares during the last quarter. Steadtrust LLC raised its holdings in Tiptree Financial by 35.7% during the 3rd quarter. Steadtrust LLC now owns 19,000 shares of the financial services provider’s stock worth $364,000 after buying an additional 5,000 shares during the period. Verition Fund Management LLC purchased a new stake in Tiptree Financial during the third quarter valued at about $277,000. Qube Research & Technologies Ltd lifted its stake in Tiptree Financial by 0.8% during the third quarter. Qube Research & Technologies Ltd now owns 125,921 shares of the financial services provider’s stock valued at $2,414,000 after buying an additional 982 shares in the last quarter. Finally, Militia Capital Partners LP acquired a new position in shares of Tiptree Financial in the third quarter worth about $196,000. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TIPT has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Tiptree Financial in a report on Monday, December 29th. Wall Street Zen lowered shares of Tiptree Financial from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Tiptree Financial currently has a consensus rating of “Hold”.

Tiptree Financial Price Performance

NASDAQ:TIPT opened at $16.76 on Monday. The business’s fifty day moving average price is $16.94 and its 200 day moving average price is $17.94. The firm has a market capitalization of $634.87 million, a price-to-earnings ratio of 25.02 and a beta of 1.00. The company has a current ratio of 6.45, a quick ratio of 6.45 and a debt-to-equity ratio of 0.08. Tiptree Financial Inc. has a 1-year low of $15.49 and a 1-year high of $27.41.

Tiptree Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 16th were issued a $0.06 dividend. The ex-dividend date was Monday, March 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. Tiptree Financial’s dividend payout ratio is currently 35.82%.

Insider Activity

In related news, CFO Scott T. Mckinney purchased 2,600 shares of Tiptree Financial stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $16.15 per share, with a total value of $41,990.00. Following the completion of the transaction, the chief financial officer directly owned 2,768 shares of the company’s stock, valued at $44,703.20. This trade represents a 1,547.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.91% of the stock is owned by company insiders.

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.