Tiptree Financial (NASDAQ:TIPT) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

Shares of Tiptree Financial Inc. (NASDAQ:TIPT) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $17.08 and traded as high as $17.94. Tiptree Financial shares last traded at $17.17, with a volume of 361,842 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen cut Tiptree Financial from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tiptree Financial in a report on Friday, April 10th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Tiptree Financial Trading Down 3.0%

The company has a market cap of $645.08 million, a price-to-earnings ratio of 19.51 and a beta of 0.91. The firm has a 50 day moving average price of $17.08 and a two-hundred day moving average price of $17.43. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.09.

Tiptree Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 18th were given a dividend of $0.06 per share. The ex-dividend date was Monday, May 18th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. Tiptree Financial’s dividend payout ratio is presently 27.27%.

Insider Activity at Tiptree Financial

In other news, CFO Scott T. Mckinney purchased 2,600 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $16.15 per share, for a total transaction of $41,990.00. Following the completion of the acquisition, the chief financial officer owned 2,768 shares in the company, valued at approximately $44,703.20. The trade was a 1,547.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in shares of Tiptree Financial by 309.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 403,398 shares of the financial services provider’s stock valued at $7,370,000 after acquiring an additional 304,917 shares during the last quarter. Gabelli Funds LLC increased its position in Tiptree Financial by 329.4% in the first quarter. Gabelli Funds LLC now owns 314,668 shares of the financial services provider’s stock worth $5,324,000 after buying an additional 241,389 shares during the last quarter. Millennium Management LLC increased its position in Tiptree Financial by 66.6% in the fourth quarter. Millennium Management LLC now owns 531,619 shares of the financial services provider’s stock worth $9,713,000 after buying an additional 212,430 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Tiptree Financial by 175.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 273,061 shares of the financial services provider’s stock worth $4,620,000 after buying an additional 173,774 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Tiptree Financial by 346.1% in the second quarter. Jane Street Group LLC now owns 166,425 shares of the financial services provider’s stock worth $3,924,000 after buying an additional 129,122 shares during the last quarter. 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.