Sei Investments Co. Boosts Stake in Tiptree Financial Inc. $TIPT

Sei Investments Co. lifted its stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT) by 98.8% in the first quarter, HoldingsChannel.com reports. The fund owned 78,691 shares of the financial services provider’s stock after acquiring an additional 39,114 shares during the quarter. Sei Investments Co.’s holdings in Tiptree Financial were worth $1,331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TIPT. Goldman Sachs Group Inc. increased its stake in Tiptree Financial by 309.6% in 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. Millennium Management LLC lifted its stake in Tiptree Financial by 66.6% during the fourth quarter. Millennium Management LLC now owns 531,619 shares of the financial services provider’s stock worth $9,713,000 after purchasing an additional 212,430 shares during the last quarter. Jane Street Group LLC lifted its stake in Tiptree Financial by 346.1% during the second quarter. Jane Street Group LLC now owns 166,425 shares of the financial services provider’s stock worth $3,924,000 after purchasing an additional 129,122 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Tiptree Financial by 1,224.5% in the 4th quarter. Marshall Wace LLP now owns 137,576 shares of the financial services provider’s stock worth $2,514,000 after purchasing an additional 127,189 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Tiptree Financial by 93.3% in the 4th quarter. AQR Capital Management LLC now owns 215,231 shares of the financial services provider’s stock worth $3,932,000 after purchasing an additional 103,909 shares in the last quarter. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

Tiptree Financial Stock Performance

Shares of TIPT stock opened at $18.03 on Wednesday. The firm has a market cap of $671.44 million, a P/E ratio of 1.67 and a beta of 0.93. Tiptree Financial Inc. has a fifty-two week low of $15.49 and a fifty-two week high of $27.41. The business’s 50 day moving average price is $17.83 and its 200-day moving average price is $17.32.

Tiptree Financial (NASDAQ:TIPT) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $10.30 EPS for the quarter. The company had revenue of $3.92 million during the quarter. Tiptree Financial had a return on equity of 0.75% and a net margin of 2.36%.

Tiptree Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 17th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 17th. Tiptree Financial’s payout ratio is presently 2.22%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Tiptree Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings restated a “hold (c)” rating on shares of Tiptree Financial in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Tiptree Financial 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.