AGNC Investment (NASDAQ:AGNC) Given New $11.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised the price target for AGNC Investment from $10.00 to $11.00, indicating an 8.21% potential upside from its previous close.
• AGNC reported earnings of $0.35 per share for the last quarter, falling short of the $0.38 consensus estimate, despite generating $903.00 million in revenue.
• Multiple analysts have given AGNC Investment an average rating of "Moderate Buy" with an average target price of $10.18, reflecting a positive outlook among market experts.

AGNC Investment (NASDAQ:AGNC - Get Free Report) had its price target lifted by stock analysts at Royal Bank Of Canada from $10.00 to $11.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price objective suggests a potential upside of 8.21% from the company's previous close.

AGNC has been the subject of several other reports. Keefe, Bruyette & Woods raised their price objective on shares of AGNC Investment from $9.50 to $10.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. UBS Group raised their target price on shares of AGNC Investment from $9.50 to $9.75 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of AGNC Investment from $9.50 to $10.00 and gave the company an "overweight" rating in a research note on Monday. Piper Sandler raised their target price on shares of AGNC Investment from $10.00 to $10.50 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. Finally, Jones Trading reaffirmed a "buy" rating and set a $10.00 target price on shares of AGNC Investment in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $10.18.

AGNC Investment Stock Performance

Shares of NASDAQ:AGNC traded up $0.12 during mid-day trading on Wednesday, reaching $10.17. The company had a trading volume of 3,581,546 shares, compared to its average volume of 24,165,672. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 15.19 and a beta of 1.32. The company's 50-day moving average price is $9.94 and its 200-day moving average price is $9.38. AGNC Investment has a one year low of $7.85 and a one year high of $10.63.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last released its quarterly earnings results on Monday, October 20th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). AGNC Investment had a return on equity of 19.44% and a net margin of 24.40%.The firm had revenue of $903.00 million during the quarter, compared to the consensus estimate of $466.39 million. During the same period in the previous year, the company posted $0.43 EPS. As a group, equities research analysts anticipate that AGNC Investment will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

In other AGNC Investment news, Director Paul E. Mullings sold 11,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $9.61, for a total transaction of $105,710.00. Following the completion of the sale, the director owned 128,511 shares of the company's stock, valued at $1,234,990.71. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John D. Fisk sold 20,278 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $9.65, for a total value of $195,682.70. Following the transaction, the director owned 112,685 shares of the company's stock, valued at approximately $1,087,410.25. This trade represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

Institutional Trading of AGNC Investment

Large investors have recently made changes to their positions in the business. Red Tortoise LLC boosted its holdings in AGNC Investment by 377.4% in the second quarter. Red Tortoise LLC now owns 2,764 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 2,185 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in AGNC Investment in the first quarter valued at about $28,000. Larson Financial Group LLC lifted its stake in AGNC Investment by 326.3% in the first quarter. Larson Financial Group LLC now owns 3,291 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 2,519 shares during the period. Trust Co. of Vermont lifted its stake in AGNC Investment by 1,003.0% in the second quarter. Trust Co. of Vermont now owns 3,629 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 3,300 shares during the period. Finally, AlphaQuest LLC acquired a new position in AGNC Investment in the first quarter valued at about $34,000. Institutional investors own 38.28% of the company's stock.

AGNC Investment Company Profile

AGNC Investment Corp., formerly American Capital Agency Corp., is a real estate investment trust. The Company invests in agency residential mortgage-backed securities on a leveraged basis. Its investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).

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