Steamboat Capital Partners LLC Has $3.32 Million Position in Tiptree Financial Inc. $TIPT

Steamboat Capital Partners LLC lowered its stake in Tiptree Financial Inc. (NASDAQ:TIPT) by 73.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 185,259 shares of the financial services provider’s stock after selling 504,741 shares during the quarter. Steamboat Capital Partners LLC’s holdings in Tiptree Financial were worth $3,320,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Tiptree Financial by 8.3% in the first quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider’s stock valued at $243,000 after buying an additional 775 shares during the period. AQR Capital Management LLC acquired a new position in shares of Tiptree Financial during the 1st quarter worth approximately $424,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tiptree Financial by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,055 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 624 shares during the period. Millennium Management LLC lifted its holdings in Tiptree Financial by 43.3% during the 1st quarter. Millennium Management LLC now owns 167,964 shares of the financial services provider’s stock valued at $4,046,000 after purchasing an additional 50,738 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in Tiptree Financial by 1.9% during the first quarter. Empowered Funds LLC now owns 120,640 shares of the financial services provider’s stock worth $2,906,000 after purchasing an additional 2,227 shares during the period. 37.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TIPT. Weiss Ratings upgraded shares of Tiptree Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 24th. Wall Street Zen upgraded Tiptree Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Tiptree Financial Stock Performance

TIPT stock opened at $17.97 on Wednesday. The company’s 50-day simple moving average is $18.09 and its 200 day simple moving average is $17.42. Tiptree Financial Inc. has a 52 week low of $15.49 and a 52 week high of $27.41. The company has a market capitalization of $669.20 million, a PE ratio of 1.66 and a beta of 0.93.

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

Tiptree Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 17th. Tiptree Financial’s dividend payout ratio is currently 2.22%.

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.