Principal Financial Group Inc. lifted its holdings in shares of Ellington Financial Inc. (NYSE:EFC – Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 451,287 shares of the financial services provider’s stock after purchasing an additional 11,975 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Ellington Financial worth $5,984,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of EFC. Invesco Ltd. lifted its holdings in shares of Ellington Financial by 17.2% in the fourth quarter. Invesco Ltd. now owns 2,364,583 shares of the financial services provider’s stock worth $28,659,000 after acquiring an additional 347,587 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ellington Financial by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,008,827 shares of the financial services provider’s stock worth $24,353,000 after acquiring an additional 43,531 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ellington Financial by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,054 shares of the financial services provider’s stock worth $17,817,000 after buying an additional 67,807 shares during the period. Northern Trust Corp increased its position in shares of Ellington Financial by 39.8% during the fourth quarter. Northern Trust Corp now owns 1,092,902 shares of the financial services provider’s stock worth $13,246,000 after acquiring an additional 311,406 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Ellington Financial by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 821,024 shares of the financial services provider’s stock valued at $9,951,000 after buying an additional 42,093 shares during the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.
Analysts Set New Price Targets
EFC has been the topic of a number of research analyst reports. B. Riley boosted their price target on shares of Ellington Financial from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. UBS Group increased their price objective on Ellington Financial from $12.00 to $12.50 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Finally, Piper Sandler dropped their target price on shares of Ellington Financial from $15.00 to $14.50 and set an “overweight” rating for the company in a report on Tuesday, July 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Ellington Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.30.
Ellington Financial Stock Up 1.3%
Shares of NYSE:EFC opened at $13.37 on Thursday. The company has a current ratio of 42.26, a quick ratio of 42.26 and a debt-to-equity ratio of 11.11. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.48 and a beta of 0.98. Ellington Financial Inc. has a 12-month low of $11.12 and a 12-month high of $14.40. The stock has a fifty day simple moving average of $12.92 and a two-hundred day simple moving average of $12.81.
Ellington Financial (NYSE:EFC – Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $82.91 million during the quarter, compared to analyst estimates of $107.06 million. Ellington Financial had a return on equity of 12.06% and a net margin of 101.59%. On average, research analysts anticipate that Ellington Financial Inc. will post 1.38 earnings per share for the current fiscal year.
Ellington Financial Announces Dividend
The business also recently declared a jul 25 dividend, which will be paid on Friday, August 29th. Shareholders of record on Thursday, July 31st will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a yield of 11.8%. Ellington Financial’s dividend payout ratio is currently 110.64%.
Ellington Financial Company Profile
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.
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