Northwestern Mutual Wealth Management Co. Makes New Investment in Ellington Financial Inc. (NYSE:EFC)

Northwestern Mutual Wealth Management Co. acquired a new position in Ellington Financial Inc. (NYSE:EFCGet Rating) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,008 shares of the financial services provider’s stock, valued at approximately $29,000.

A number of other institutional investors have also recently added to or reduced their stakes in EFC. PNC Financial Services Group Inc. lifted its holdings in Ellington Financial by 126.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock worth $25,000 after buying an additional 759 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Ellington Financial in the 1st quarter worth about $62,000. KBC Group NV bought a new stake in shares of Ellington Financial in the 2nd quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ellington Financial by 82.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,245 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 3,277 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ellington Financial in the 2nd quarter worth about $147,000. Institutional investors and hedge funds own 54.41% of the company’s stock.

Ellington Financial Price Performance

Shares of NYSE:EFC opened at $14.33 on Tuesday. The company has a quick ratio of 25.88, a current ratio of 21.09 and a debt-to-equity ratio of 5.00. The firm has a 50-day simple moving average of $13.04 and a 200 day simple moving average of $14.48. The company has a market cap of $866.09 million, a PE ratio of -12.04 and a beta of 1.84. Ellington Financial Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $18.13.

Ellington Financial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 27th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 12.56%. The ex-dividend date is Tuesday, November 29th. Ellington Financial’s payout ratio is -151.26%.

Analysts Set New Price Targets

EFC has been the subject of several research analyst reports. Credit Suisse Group dropped their target price on shares of Ellington Financial to $14.00 in a research report on Thursday, October 13th. StockNews.com assumed coverage on shares of Ellington Financial in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Piper Sandler lowered their price objective on shares of Ellington Financial from $17.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, October 3rd. Keefe, Bruyette & Woods downgraded shares of Ellington Financial from an “outperform” rating to a “market perform” rating and set a $14.75 price objective for the company. in a research report on Monday, July 18th. Finally, Maxim Group lowered their price objective on shares of Ellington Financial from $17.50 to $15.50 and set a “buy” rating for the company in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.38.

Ellington Financial Profile

(Get Rating)

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

Featured Articles

Institutional Ownership by Quarter for Ellington Financial (NYSE:EFC)

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