Nuveen Asset Management LLC purchased a new stake in Ellington Financial Inc (NYSE:EFC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 145,435 shares of the financial services provider’s stock, valued at approximately $2,613,000.
Several other hedge funds and other institutional investors have also made changes to their positions in EFC. Marshall Wace North America L.P. purchased a new position in shares of Ellington Financial during the first quarter valued at approximately $175,000. Nordea Investment Management AB lifted its stake in shares of Ellington Financial by 145,997.1% during the first quarter. Nordea Investment Management AB now owns 102,268 shares of the financial services provider’s stock valued at $1,830,000 after buying an additional 102,198 shares during the period. Jag Capital Management LLC purchased a new position in shares of Ellington Financial during the second quarter valued at approximately $383,000. Strs Ohio purchased a new position in shares of Ellington Financial during the second quarter valued at approximately $129,000. Finally, Optimum Investment Advisors lifted its stake in shares of Ellington Financial by 13.3% during the second quarter. Optimum Investment Advisors now owns 29,879 shares of the financial services provider’s stock valued at $537,000 after buying an additional 3,506 shares during the period. 50.53% of the stock is currently owned by institutional investors.
Shares of EFC opened at $18.34 on Tuesday. The company has a debt-to-equity ratio of 4.01, a quick ratio of 43.66 and a current ratio of 43.66. The company has a market capitalization of $619.69 million, a price-to-earnings ratio of 10.67 and a beta of 0.39. The company’s 50 day simple moving average is $17.92 and its 200 day simple moving average is $17.92. Ellington Financial Inc has a 1 year low of $14.69 and a 1 year high of $18.50.
The business also recently declared a monthly dividend, which will be paid on Monday, November 25th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a yield of 9.16%. The ex-dividend date of this dividend is Wednesday, October 30th. Ellington Financial’s dividend payout ratio is currently 119.15%.
EFC has been the topic of several recent analyst reports. Nomura initiated coverage on shares of Ellington Financial in a research note on Friday, September 27th. They set a “buy” rating and a $20.00 price objective on the stock. Maxim Group reissued a “buy” rating and set a $20.00 price objective on shares of Ellington Financial in a research note on Wednesday, October 9th. ValuEngine downgraded shares of Ellington Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded shares of Ellington Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $19.50.
Ellington Financial Company Profile
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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