Corebridge Financial Inc. Buys 893 Shares of Ellington Financial Inc. $EFC

Corebridge Financial Inc. lifted its stake in Ellington Financial Inc. (NYSE:EFC) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,054 shares of the financial services provider’s stock after acquiring an additional 893 shares during the period. Corebridge Financial Inc.’s holdings in Ellington Financial were worth $611,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in Ellington Financial during the 4th quarter valued at about $56,000. GAMMA Investing LLC grew its stake in Ellington Financial by 243.8% during the 1st quarter. GAMMA Investing LLC now owns 4,800 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 3,404 shares during the last quarter. Versant Capital Management Inc grew its stake in Ellington Financial by 1,824.5% during the 1st quarter. Versant Capital Management Inc now owns 5,581 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 5,291 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Ellington Financial by 99.4% during the 1st quarter. Russell Investments Group Ltd. now owns 9,918 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 4,944 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Ellington Financial by 18.2% during the 4th quarter. Cetera Investment Advisers now owns 11,920 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 1,836 shares during the last quarter. 55.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EFC. Zacks Research upgraded Ellington Financial to a “strong-buy” rating in a research note on Tuesday, August 12th. Jones Trading upgraded Ellington Financial from a “hold” rating to a “buy” rating and set a $14.25 price target on the stock in a research note on Wednesday, August 13th. Piper Sandler dropped their price target on Ellington Financial from $15.00 to $14.50 and set an “overweight” rating on the stock in a research note on Tuesday, July 1st. UBS Group boosted their price target on Ellington Financial from $12.50 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Finally, B. Riley boosted their price target on Ellington Financial from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $14.46.

Ellington Financial Stock Up 0.8%

Shares of EFC opened at $13.83 on Monday. Ellington Financial Inc. has a 52 week low of $11.12 and a 52 week high of $14.40. The company has a quick ratio of 46.78, a current ratio of 46.78 and a debt-to-equity ratio of 10.96. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 11.15 and a beta of 1.00. The stock’s 50-day moving average price is $13.33 and its 200-day moving average price is $13.04.

Ellington Financial (NYSE:EFC) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. The company had revenue of $92.54 million during the quarter, compared to analysts’ expectations of $112.48 million. Ellington Financial had a return on equity of 13.56% and a net margin of 89.52%. On average, sell-side analysts predict that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 11.3%. Ellington Financial’s dividend payout ratio is presently 125.81%.

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.