Tiptree Financial (NASDAQ:TIPT) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Tiptree Financial Inc. (NASDAQ:TIPT)’s share price passed 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.

Analyst Ratings Changes

TIPT has been the topic of a number of research analyst reports. Wall Street Zen downgraded Tiptree Financial from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tiptree Financial in a report on Friday, April 10th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Tiptree Financial Stock Up 1.1%

The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $17.12 and a 200-day simple moving average of $17.42. The firm has a market cap of $663.86 million, a P/E ratio of 20.08 and a beta of 0.91.

Tiptree Financial Announces Dividend

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

Insider Transactions at Tiptree Financial

In other news, CFO Scott T. Mckinney bought 2,600 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were bought at an average price of $16.15 per share, for a total transaction of $41,990.00. Following the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.91% of the company’s stock.

Institutional Trading of Tiptree Financial

A number of hedge funds and other institutional investors have recently modified their holdings of TIPT. SkyView Investment Advisors LLC lifted its holdings in shares of Tiptree Financial by 1.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 27,280 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 508 shares during the last quarter. Creative Planning increased its stake in Tiptree Financial by 6.0% during the third quarter. Creative Planning now owns 10,667 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 605 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Tiptree Financial by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,055 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 624 shares during the last quarter. Royal Bank of Canada raised its position in Tiptree Financial by 8.3% during the first quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 775 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Tiptree Financial by 0.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 125,921 shares of the financial services provider’s stock valued at $2,414,000 after purchasing an additional 982 shares during the last quarter. 37.78% of the stock is owned by hedge funds and other institutional investors.

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.