Insider Buying: Tiptree Financial (NASDAQ:TIPT) Director Acquires $100,595.00 in Stock

Tiptree Financial Inc. (NASDAQ:TIPT) Director Dominique Mielle purchased 5,500 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were bought at an average price of $18.29 per share, for a total transaction of $100,595.00. Following the completion of the transaction, the director directly owned 70,712 shares in the company, valued at approximately $1,293,322.48. This trade represents a 8.43% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tiptree Financial Price Performance

NASDAQ:TIPT opened at $19.01 on Thursday. The firm has a market capitalization of $718.96 million, a P/E ratio of 17.28 and a beta of 1.13. The business has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $21.40. Tiptree Financial Inc. has a 12-month low of $17.07 and a 12-month high of $27.41.

Tiptree Financial (NASDAQ:TIPT) last posted its earnings results on Friday, October 31st. The financial services provider reported $0.71 earnings per share (EPS) for the quarter. The company had revenue of $540.30 million for the quarter. Tiptree Financial had a return on equity of 14.30% and a net margin of 2.44%.

Tiptree Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be given a $0.06 dividend. The ex-dividend date is Monday, November 17th. This represents a $0.24 annualized dividend and a yield of 1.3%. Tiptree Financial’s dividend payout ratio is 21.82%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TIPT. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Tiptree Financial in a report on Friday, October 31st. Wall Street Zen downgraded Tiptree Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Tiptree Financial currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its position in Tiptree Financial by 86.7% in the first quarter. CWM LLC now owns 1,535 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 713 shares during the period. Tectonic Advisors LLC raised its stake in shares of Tiptree Financial by 8.2% in the 1st quarter. Tectonic Advisors LLC now owns 31,545 shares of the financial services provider’s stock worth $760,000 after buying an additional 2,387 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Tiptree Financial in the first quarter valued at $287,000. Vanguard Group Inc. boosted its stake in Tiptree Financial by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,291,675 shares of the financial services provider’s stock valued at $31,116,000 after buying an additional 28,373 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Tiptree Financial by 32.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,827 shares of the financial services provider’s stock valued at $1,658,000 after buying an additional 16,827 shares in the last quarter. Institutional investors and hedge funds own 37.78% of the company’s stock.

About Tiptree Financial

Tiptree Inc, through its subsidiaries, provides specialty insurance products and related services primarily in the United States. It operates through two segments: Insurance and Mortgage. The company offers niche; commercial lines insurance products, including professional liability, general liability, contractual liability protection, property and other short-tail, and alternative risks insurance products; and personal lines insurance products, such as credit protection surrounding loan payments.