Edge Wealth Management LLC lessened its holdings in shares of Ellington Financial Inc (NYSE:EFC) by 13.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,800 shares of the financial services provider’s stock after selling 6,000 shares during the period. Edge Wealth Management LLC owned 0.13% of Ellington Financial worth $713,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of EFC. BBR Partners LLC grew its stake in shares of Ellington Financial by 29.1% during the 4th quarter. BBR Partners LLC now owns 1,560,501 shares of the financial services provider’s stock valued at $23,922,000 after purchasing an additional 351,744 shares during the period. Morgan Stanley grew its stake in shares of Ellington Financial by 0.6% during the 3rd quarter. Morgan Stanley now owns 1,116,239 shares of the financial services provider’s stock valued at $17,872,000 after acquiring an additional 6,282 shares during the period. Citigroup Inc. grew its stake in shares of Ellington Financial by 10.4% during the 4th quarter. Citigroup Inc. now owns 881,829 shares of the financial services provider’s stock valued at $13,519,000 after acquiring an additional 83,124 shares during the period. Barclays PLC grew its stake in shares of Ellington Financial by 264.8% during the 4th quarter. Barclays PLC now owns 109,715 shares of the financial services provider’s stock valued at $1,682,000 after acquiring an additional 79,638 shares during the period. Finally, Tibra Equities Europe Ltd bought a new position in shares of Ellington Financial during the 1st quarter valued at approximately $868,000. 49.71% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on EFC. Zacks Investment Research upgraded Ellington Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Maxim Group restated a “buy” rating and issued a $19.50 price target on shares of Ellington Financial in a research note on Thursday, April 11th. Finally, B. Riley upgraded Ellington Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $16.00 to $18.00 in a research note on Thursday, February 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Ellington Financial presently has an average rating of “Hold” and an average target price of $18.50.
Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Wednesday, February 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The business had revenue of $36.85 million for the quarter, compared to analysts’ expectations of $34.11 million. Ellington Financial had a return on equity of 7.62% and a net margin of 34.56%. On average, sell-side analysts expect that Ellington Financial Inc will post 1.54 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, April 29th. This represents a $1.68 annualized dividend and a dividend yield of 9.33%. Ellington Financial’s dividend payout ratio (DPR) is 39.72%.
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About Ellington Financial
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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