Corsair Capital Management L.P. Takes Position in Tiptree Financial Inc. $TIPT

Corsair Capital Management L.P. acquired a new stake in Tiptree Financial Inc. (NASDAQ:TIPT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,000 shares of the financial services provider’s stock, valued at approximately $354,000.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 purchasing an additional 624 shares in the last quarter. CWM LLC raised its holdings in shares of Tiptree Financial by 86.7% in the 1st quarter. CWM LLC now owns 1,535 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 713 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Tiptree Financial by 8.3% in the 1st 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 in the last quarter. Intech Investment Management LLC grew its stake in shares of Tiptree Financial by 8.5% during the second quarter. Intech Investment Management LLC now owns 13,908 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 1,086 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in Tiptree Financial in the second quarter valued at $35,000. 37.78% of the stock is owned by institutional investors and hedge funds.

Tiptree Financial Price Performance

Tiptree Financial stock opened at $18.81 on Friday. The business has a 50 day simple moving average of $18.78 and a 200-day simple moving average of $21.18. Tiptree Financial Inc. has a 12 month low of $17.07 and a 12 month high of $27.41. The stock has a market capitalization of $711.39 million, a PE ratio of 17.10 and a beta of 1.13.

Tiptree Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, November 17th. Tiptree Financial’s payout ratio is 21.82%.

Insider Buying and Selling

In other Tiptree Financial news, Director Dominique Mielle acquired 5,500 shares of the stock in a transaction on Friday, November 7th. The shares were bought at an average price of $18.29 per share, with a total value of $100,595.00. Following the acquisition, the director owned 70,712 shares of the company’s stock, valued at $1,293,322.48. This trade represents a 8.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 31.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Tiptree Financial 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.