Pekin Hardy Strauss Inc. Acquires New Holdings in Tiptree Financial Inc. $TIPT

Pekin Hardy Strauss Inc. bought a new position in shares of Tiptree Financial Inc. (NASDAQ:TIPT) in the second quarter, Holdings Channel reports. The firm bought 9,300 shares of the financial services provider’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its position in shares of Tiptree Financial by 23.7% in the second quarter. Teacher Retirement System of Texas now owns 50,340 shares of the financial services provider’s stock valued at $1,187,000 after purchasing an additional 9,630 shares during the period. AlphaQuest LLC acquired a new position in Tiptree Financial in the 2nd quarter valued at $35,000. Sanders Morris Harris LLC raised its holdings in Tiptree Financial by 50.0% in the 2nd quarter. Sanders Morris Harris LLC now owns 30,000 shares of the financial services provider’s stock worth $707,000 after acquiring an additional 10,000 shares during the period. Voya Investment Management LLC raised its holdings in Tiptree Financial by 28.4% in the 1st quarter. Voya Investment Management LLC now owns 27,981 shares of the financial services provider’s stock worth $674,000 after acquiring an additional 6,186 shares during the period. Finally, Strs Ohio acquired a new position in Tiptree Financial during the 1st quarter worth $99,000. Institutional investors and hedge funds own 37.78% of the company’s stock.

Tiptree Financial Price Performance

Shares of Tiptree Financial stock opened at $18.39 on Friday. The company has a market cap of $689.63 million, a PE ratio of 16.72 and a beta of 1.13. The firm has a fifty day moving average price of $20.12 and a two-hundred day moving average price of $21.47. Tiptree Financial Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $27.41.

Tiptree Financial (NASDAQ:TIPT) last posted its quarterly earnings data 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 net margin of 2.44% and a return on equity of 14.30%.

Tiptree Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be issued a $0.06 dividend. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TIPT shares. Wall Street Zen downgraded Tiptree Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Tiptree Financial in a research report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Tiptree Financial has a consensus rating of “Buy”.

Tiptree Financial Company Profile

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.