Cubist Systematic Strategies LLC Acquires New Stake in Tiptree Financial Inc. $TIPT

Cubist Systematic Strategies LLC acquired a new stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 26,598 shares of the financial services provider’s stock, valued at approximately $641,000. Cubist Systematic Strategies LLC owned 0.07% of Tiptree Financial as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. OneDigital Investment Advisors LLC boosted its holdings in Tiptree Financial by 3.3% during the 1st quarter. OneDigital Investment Advisors LLC now owns 16,777 shares of the financial services provider’s stock valued at $404,000 after acquiring an additional 543 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tiptree Financial by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,431 shares of the financial services provider’s stock valued at $301,000 after acquiring an additional 608 shares during the period. CWM LLC boosted its holdings in Tiptree Financial by 86.7% during the 1st quarter. CWM LLC now owns 1,535 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 713 shares during the period. Royal Bank of Canada boosted its holdings in Tiptree Financial by 8.3% during the 1st quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 775 shares during the period. Finally, Trexquant Investment LP boosted its holdings in Tiptree Financial by 16.2% during the 1st quarter. Trexquant Investment LP now owns 15,361 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 2,140 shares during the period. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Tiptree Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd.

Tiptree Financial Stock Up 1.9%

Shares of NASDAQ TIPT opened at $22.95 on Wednesday. The firm has a market cap of $860.63 million, a PE ratio of 18.21 and a beta of 1.23. Tiptree Financial Inc. has a twelve month low of $18.25 and a twelve month high of $26.90. The business has a fifty day simple moving average of $22.14 and a two-hundred day simple moving average of $22.37.

Tiptree Financial (NASDAQ:TIPT) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.52 EPS for the quarter. The firm had revenue of $528.75 million during the quarter. Tiptree Financial had a return on equity of 13.90% and a net margin of 2.77%.

Tiptree Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 18th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, August 18th. Tiptree Financial’s payout ratio is presently 19.05%.

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.