Prospera Financial Services Inc Makes New Investment in Tiptree Inc (NASDAQ:TIPT)

Prospera Financial Services Inc bought a new position in Tiptree Inc (NASDAQ:TIPT) during the second quarter, Holdings Channel.com reports. The fund bought 37,948 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other hedge funds also recently modified their holdings of TIPT. BNP Paribas Arbitrage SA lifted its position in shares of Tiptree by 418.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,623 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 4,539 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Tiptree in the 1st quarter worth approximately $123,000. Panagora Asset Management Inc. lifted its position in shares of Tiptree by 50.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 30,229 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 10,133 shares during the period. Wells Fargo & Company MN lifted its position in shares of Tiptree by 5.2% in the 2nd quarter. Wells Fargo & Company MN now owns 43,677 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 2,175 shares during the period. Finally, Northern Trust Corp lifted its position in Tiptree by 2.9% during the second quarter. Northern Trust Corp now owns 279,563 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 7,887 shares during the last quarter. Institutional investors and hedge funds own 34.14% of the company’s stock.

TIPT has been the subject of a number of analyst reports. BidaskClub raised shares of Tiptree from a “buy” rating to a “strong-buy” rating in a research report on Thursday. ValuEngine lowered shares of Tiptree from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th.



In other Tiptree news, insider Michael Gene Barnes acquired 24,900 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average price of $6.75 per share, for a total transaction of $168,075.00. Following the completion of the purchase, the insider now directly owns 8,009,731 shares of the company’s stock, valued at $54,065,684.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought 94,171 shares of company stock worth $629,548 in the last quarter. Company insiders own 25.56% of the company’s stock.

Tiptree stock traded up $0.23 during mid-day trading on Friday, reaching $7.19. 420 shares of the company traded hands, compared to its average volume of 36,374. Tiptree Inc has a fifty-two week low of $5.01 and a fifty-two week high of $7.80. The company has a market capitalization of $256.03 million, a price-to-earnings ratio of 46.31 and a beta of -0.03. The firm’s fifty day moving average is $6.86 and its two-hundred day moving average is $6.35.

Tiptree (NASDAQ:TIPT) last released its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.32 earnings per share for the quarter. The firm had revenue of $191.07 million for the quarter. Tiptree had a net margin of 2.17% and a return on equity of 1.49%.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were paid a $0.04 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.23%.

Tiptree Company Profile

Tiptree Inc, through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The company provides credit protection insurance, warranty and service contract products, and niche commercial and consumer insurance programs, as well as offers value-add services, including premium finance and business processing services.

Featured Story: How to invest in blue-chip stocks

Want to see what other hedge funds are holding TIPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tiptree Inc (NASDAQ:TIPT).

Institutional Ownership by Quarter for Tiptree (NASDAQ:TIPT)

Receive News & Ratings for Tiptree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tiptree and related companies with MarketBeat.com's FREE daily email newsletter.