Cetera Investment Advisers Invests $182,000 in Eagle Point Income Company Inc. $EIC

Cetera Investment Advisers bought a new position in shares of Eagle Point Income Company Inc. (NYSE:EIC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,199 shares of the company’s stock, valued at approximately $182,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Graypoint LLC lifted its position in shares of Eagle Point Income by 1.9% during the first quarter. Graypoint LLC now owns 200,895 shares of the company’s stock worth $3,003,000 after purchasing an additional 3,759 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Eagle Point Income by 12.8% during the first quarter. Envestnet Asset Management Inc. now owns 96,830 shares of the company’s stock valued at $1,448,000 after buying an additional 10,961 shares during the period. Verity Asset Management Inc. purchased a new position in shares of Eagle Point Income during the first quarter valued at $1,149,000. Choreo LLC purchased a new position in shares of Eagle Point Income during the first quarter valued at $1,052,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Eagle Point Income during the fourth quarter valued at $842,000.

Eagle Point Income Trading Up 0.6%

EIC opened at $13.3550 on Friday. Eagle Point Income Company Inc. has a 1 year low of $12.10 and a 1 year high of $16.71. The business’s 50-day moving average is $13.24 and its two-hundred day moving average is $14.14.

Eagle Point Income (NYSE:EIC) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $15.27 million during the quarter, compared to analyst estimates of $14.40 million.

Eagle Point Income Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 11.7%.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH upgraded Eagle Point Income to a “strong-buy” rating in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average target price of $17.50.

Eagle Point Income Profile

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.