Principal Financial Group Inc. Purchases 2,434 Shares of Ellington Financial Inc. (NYSE:EFC)

Principal Financial Group Inc. boosted its holdings in shares of Ellington Financial Inc. (NYSE:EFCFree Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 411,161 shares of the financial services provider’s stock after purchasing an additional 2,434 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Ellington Financial worth $4,856,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Global Retirement Partners LLC bought a new stake in shares of Ellington Financial in the first quarter valued at about $27,000. Tower Research Capital LLC TRC lifted its position in shares of Ellington Financial by 100.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,835 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 1,424 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Ellington Financial by 35.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 992 shares in the last quarter. Private Trust Co. NA increased its position in shares of Ellington Financial by 42.8% during the fourth quarter. Private Trust Co. NA now owns 4,334 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,299 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Ellington Financial in the fourth quarter valued at $102,000. 55.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EFC. BTIG Research decreased their price target on shares of Ellington Financial from $15.50 to $13.50 and set a “buy” rating on the stock in a research note on Thursday, April 18th. JMP Securities reissued a “market outperform” rating and issued a $14.50 target price on shares of Ellington Financial in a research note on Thursday, April 18th. StockNews.com upgraded shares of Ellington Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Jonestrading started coverage on Ellington Financial in a research note on Friday, April 19th. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ellington Financial currently has an average rating of “Moderate Buy” and a consensus target price of $13.95.

Check Out Our Latest Stock Report on EFC

Insider Activity at Ellington Financial

In other Ellington Financial news, CIO Michael W. Vranos sold 8,300 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $12.11, for a total transaction of $100,513.00. Following the completion of the transaction, the executive now owns 169,174 shares in the company, valued at approximately $2,048,697.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CIO Michael W. Vranos sold 8,300 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $12.11, for a total transaction of $100,513.00. Following the sale, the executive now owns 169,174 shares in the company, valued at approximately $2,048,697.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CIO Michael W. Vranos sold 5,900 shares of Ellington Financial stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.12, for a total value of $71,508.00. Following the completion of the sale, the executive now owns 179,655 shares of the company’s stock, valued at $2,177,418.60. The disclosure for this sale can be found here. Insiders have sold 22,500 shares of company stock worth $272,866 over the last ninety days. Insiders own 4.40% of the company’s stock.

Ellington Financial Trading Up 0.2 %

Shares of NYSE EFC opened at $12.17 on Friday. Ellington Financial Inc. has a 1-year low of $10.88 and a 1-year high of $14.21. The company has a current ratio of 46.79, a quick ratio of 46.79 and a debt-to-equity ratio of 10.99. The company has a 50-day moving average of $11.99 and a two-hundred day moving average of $11.98. The company has a market cap of $1.03 billion, a PE ratio of 19.02 and a beta of 1.97.

Ellington Financial (NYSE:EFCGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.07). The company had revenue of $31.06 million for the quarter, compared to the consensus estimate of $26.68 million. Ellington Financial had a net margin of 66.65% and a return on equity of 10.51%. As a group, equities analysts expect that Ellington Financial Inc. will post 1.46 earnings per share for the current fiscal year.

Ellington Financial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 25th. Investors of record on Friday, June 28th will be paid a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.82%. The ex-dividend date of this dividend is Friday, June 28th. Ellington Financial’s dividend payout ratio is currently 243.75%.

About Ellington Financial

(Free Report)

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 mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.

Further Reading

Want to see what other hedge funds are holding EFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellington Financial Inc. (NYSE:EFCFree Report).

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.