Mackenzie Financial Corp Invests $5.81 Million in AGNC Investment Corp. (NASDAQ:AGNC)

Key Points

• Mackenzie Financial Corp has acquired a new position in AGNC Investment Corp., purchasing 606,551 shares valued at approximately $5.81 million.
• AGNC Investment reported a 0.38 EPS for the last quarter, missing expectations, with revenue significantly outperforming at $830 million.
• The company recently announced a $0.12 dividend to be paid on August 11th, resulting in a striking 1,520.0% dividend yield.

Mackenzie Financial Corp bought a new position in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 606,551 shares of the real estate investment trust's stock, valued at approximately $5,811,000. Mackenzie Financial Corp owned approximately 0.07% of AGNC Investment at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hsbc Holdings PLC raised its position in shares of AGNC Investment by 5.6% during the 4th quarter. Hsbc Holdings PLC now owns 18,259 shares of the real estate investment trust's stock valued at $168,000 after buying an additional 970 shares in the last quarter. Kovack Advisors Inc. boosted its stake in shares of AGNC Investment by 0.5% in the 1st quarter. Kovack Advisors Inc. now owns 222,310 shares of the real estate investment trust's stock valued at $2,130,000 after purchasing an additional 1,186 shares in the last quarter. CoreCap Advisors LLC boosted its position in AGNC Investment by 34.8% during the fourth quarter. CoreCap Advisors LLC now owns 4,765 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 1,229 shares during the period. IFP Advisors Inc boosted its holdings in AGNC Investment by 24.2% during the 1st quarter. IFP Advisors Inc now owns 6,479 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 1,261 shares during the period. Finally, HB Wealth Management LLC lifted its position in AGNC Investment by 9.2% in the first quarter. HB Wealth Management LLC now owns 15,316 shares of the real estate investment trust's stock valued at $147,000 after purchasing an additional 1,296 shares during the last quarter. 38.28% of the stock is owned by institutional investors.

AGNC Investment Stock Performance

AGNC Investment stock traded down $0.18 during mid-day trading on Wednesday, reaching $9.42. 16,554,239 shares of the stock traded hands, compared to its average volume of 26,133,602. AGNC Investment Corp. has a 12-month low of $7.85 and a 12-month high of $10.85. The business's 50-day moving average is $9.32 and its 200-day moving average is $9.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.33 and a quick ratio of 0.28. The stock has a market capitalization of $9.81 billion, a PE ratio of 27.71 and a beta of 1.28.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.04). The business had revenue of $830.00 million during the quarter, compared to analysts' expectations of $447.37 million. AGNC Investment had a return on equity of 19.32% and a net margin of 11.50%. During the same period in the previous year, the business posted $0.53 EPS. As a group, sell-side analysts predict that AGNC Investment Corp. will post 1.61 EPS for the current fiscal year.

AGNC Investment Announces Dividend

The company also recently declared a jul 25 dividend, which will be paid on Monday, August 11th. Shareholders of record on Thursday, July 31st will be given a $0.12 dividend. This represents a dividend yield of 1,520.0%. The ex-dividend date is Thursday, July 31st. AGNC Investment's dividend payout ratio is presently 423.53%.

Insider Buying and Selling

In other news, Director Paul E. Mullings sold 11,000 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $9.61, for a total value of $105,710.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John D. Fisk sold 20,278 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $9.65, for a total transaction 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 represents a 15.25% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of AGNC Investment from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. cut their price target on shares of AGNC Investment from $9.50 to $8.50 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods lifted their target price on shares of AGNC Investment from $9.50 to $10.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Argus reiterated a "hold" rating on shares of AGNC Investment in a research note on Tuesday, April 29th. Finally, Royal Bank Of Canada dropped their price objective on shares of AGNC Investment from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $9.58.

AGNC Investment 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).