Norden Group LLC Grows Stock Position in Ellington Financial Inc. $EFC

Norden Group LLC raised its holdings in shares of Ellington Financial Inc. (NYSE:EFC) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,884 shares of the financial services provider’s stock after acquiring an additional 2,546 shares during the quarter. Norden Group LLC’s holdings in Ellington Financial were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Ellington Financial by 0.8% in the fourth quarter. Bank of America Corp DE now owns 196,381 shares of the financial services provider’s stock valued at $2,380,000 after purchasing an additional 1,648 shares during the last quarter. Cetera Investment Advisers grew its holdings 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 buying an additional 1,836 shares during the last quarter. Millennium Management LLC purchased a new position in Ellington Financial during the fourth quarter worth $156,000. ProShare Advisors LLC raised its holdings in shares of Ellington Financial by 47.6% in the fourth quarter. ProShare Advisors LLC now owns 25,562 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 8,247 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Ellington Financial by 15.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 156,250 shares of the financial services provider’s stock worth $1,894,000 after acquiring an additional 21,324 shares during the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jones Trading raised Ellington Financial from a “hold” rating to a “buy” rating and set a $14.25 price objective on the stock in a research note on Wednesday, August 13th. UBS Group raised their price target on shares of Ellington Financial from $12.50 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Piper Sandler cut their price objective on shares of Ellington Financial from $15.00 to $14.50 and set an “overweight” rating for the company in a research report on Tuesday, July 1st. Finally, Zacks Research upgraded shares of Ellington Financial to a “strong-buy” rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $14.46.

Ellington Financial Stock Performance

Shares of EFC stock opened at $13.15 on Friday. The company has a debt-to-equity ratio of 10.96, a quick ratio of 46.78 and a current ratio of 46.78. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.60 and a beta of 1.00. Ellington Financial Inc. has a one year low of $11.12 and a one year high of $14.40. The company has a 50 day moving average price of $13.37 and a 200 day moving average price of $13.03.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 89.52% and a return on equity of 13.56%. Sell-side analysts anticipate that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The company also recently declared a sep 25 dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, September 30th. This represents a yield of 1,140.0%. Ellington Financial’s dividend payout ratio is currently 125.81%.

Ellington Financial 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.