297,201 Shares in Ellington Financial Inc. $EFC Bought by Nuveen LLC

Key Points

• Nuveen LLC purchased 297,201 shares of Ellington Financial Inc., valued at approximately $3.94 million, representing 0.31% of the company's total shares as per their latest SEC filing.
• Ellington Financial recently reported quarterly earnings of $0.47 per share, exceeding analysts' estimates of $0.40, while also announcing a monthly dividend of $0.13 with an annualized yield of 11.3%.
• Analysts have raised their price targets on Ellington Financial stocks, with Zacks Research upgrading it to a "strong-buy" rating and a consensus average target price of $14.29.

Nuveen LLC bought a new stake in Ellington Financial Inc. (NYSE:EFC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 297,201 shares of the financial services provider's stock, valued at approximately $3,941,000. Nuveen LLC owned approximately 0.31% of Ellington Financial at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EFC. State of Wyoming purchased a new position in shares of Ellington Financial in the 4th quarter valued at about $56,000. GAMMA Investing LLC boosted its stake in shares of Ellington Financial by 243.8% in the 1st quarter. GAMMA Investing LLC now owns 4,800 shares of the financial services provider's stock valued at $64,000 after buying an additional 3,404 shares during the period. Versant Capital Management Inc boosted its stake in shares of Ellington Financial by 1,824.5% in the 1st quarter. Versant Capital Management Inc now owns 5,581 shares of the financial services provider's stock valued at $74,000 after buying an additional 5,291 shares during the period. Mariner LLC purchased a new position in shares of Ellington Financial in the 4th quarter valued at about $143,000. Finally, Cetera Investment Advisers boosted its stake in shares of Ellington Financial by 18.2% in 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 period. 55.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EFC. B. Riley lifted their price objective on Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. UBS Group lifted their price objective on Ellington Financial from $12.00 to $12.50 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Piper Sandler decreased their price objective on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Jones Trading upgraded Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price objective for the company in a research note on Wednesday, August 13th. Finally, Zacks Research upgraded Ellington Financial to a "strong-buy" rating in a research note on Tuesday, August 12th. One research 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $14.29.

Ellington Financial Stock Down 0.5%

EFC stock traded down $0.07 during trading on Tuesday, hitting $13.57. 1,556,278 shares of the company's stock were exchanged, compared to its average volume of 1,219,509. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 10.95 and a beta of 1.00. Ellington Financial Inc. has a 52-week low of $11.12 and a 52-week high of $14.40. The business has a 50-day moving average price of $13.29 and a two-hundred day moving average price of $13.03. The company has a current ratio of 46.78, a quick ratio of 46.78 and a debt-to-equity ratio of 10.96.

Ellington Financial (NYSE:EFC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.40 by $0.07. The company had revenue of $92.54 million for the quarter, compared to analyst estimates of $112.48 million. Ellington Financial had a return on equity of 13.56% and a net margin of 89.52%. As a group, equities research analysts expect that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 11.5%. Ellington Financial's payout ratio is presently 125.81%.

About Ellington Financial

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.