AGNC Investment Corp. $AGNC Shares Purchased by Van ECK Associates Corp

Key Points

• Van ECK Associates increased its AGNC Investment stake by 17.2% during the second quarter, adding 763,109 shares to own 5.19 million shares valued at approximately $56.6 million. Institutional investors collectively own 38.28% of AGNC.
• AGNC reported quarterly EPS of $0.40, beating the $0.38 consensus estimate, while analysts maintain a consensus “Hold” rating with an $11.11 price target.
• The company declared a $0.12 monthly dividend, implying a 13.2% annualized yield. Shares opened at $10.90, near their 50-day average of $10.88.

Van ECK Associates Corp boosted its holdings in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) by 17.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,190,499 shares of the real estate investment trust's stock after acquiring an additional 763,109 shares during the period. Van ECK Associates Corp owned 0.44% of AGNC Investment worth $56,576,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Ferguson Wellman Capital Management Inc. grew its position in shares of AGNC Investment by 17.3% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 41,039 shares of the real estate investment trust's stock valued at $447,000 after purchasing an additional 6,039 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in AGNC Investment during the second quarter worth $856,000. Beacon Pointe Advisors LLC acquired a new position in AGNC Investment during the second quarter worth $1,962,000. United Capital Financial Advisors LLC purchased a new stake in AGNC Investment in the 2nd quarter valued at $319,000. Finally, Equitable Holdings Inc. purchased a new stake in AGNC Investment in the 2nd quarter valued at $794,000. 38.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AGNC Investment

In related news, EVP Bernice Bell sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $11.00, for a total transaction of $55,000.00. Following the completion of the transaction, the executive vice president owned 406,947 shares of the company's stock, valued at approximately $4,476,417. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Analyst Ratings Changes

AGNC has been the topic of several analyst reports. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $11.50 price target (up from $11.00) on shares of AGNC Investment in a report on Friday, July 17th. Piper Sandler raised their price objective on shares of AGNC Investment from $11.50 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods reduced their target price on shares of AGNC Investment from $12.00 to $11.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. Wells Fargo & Company decreased their target price on shares of AGNC Investment from $12.00 to $11.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Finally, Compass Point cut shares of AGNC Investment from a "buy" rating to a "neutral" rating and set a $11.50 price target for the company. in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $11.11.

AGNC Investment Trading Down 0.4%

NASDAQ AGNC opened at $10.90 on Friday. The stock has a fifty day simple moving average of $10.88 and a 200-day simple moving average of $10.69. The stock has a market cap of $12.92 billion, a PE ratio of 5.74 and a beta of 1.32. AGNC Investment Corp. has a twelve month low of $9.62 and a twelve month high of $12.19.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $305.00 million for the quarter, compared to analyst estimates of $1.06 billion. AGNC Investment had a net margin of 57.94% and a return on equity of 17.96%. During the same period in the previous year, the firm earned ($0.17) EPS. Research analysts predict that AGNC Investment Corp. will post 1.6 EPS for the current year.

AGNC Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 31st will be issued a $0.12 dividend. This represents a c) annualized dividend and a dividend yield of 13.2%. The ex-dividend date is Monday, August 31st. AGNC Investment's dividend payout ratio is currently 75.79%.

AGNC Investment Profile

AGNC Investment Corp. is a self-managed real estate investment trust (REIT) that primarily acquires and manages a portfolio of residential mortgage-backed securities guaranteed by U.S. government-sponsored enterprises such as Ginnie Mae, Fannie Mae and Freddie Mac. The company employs a leveraged total return strategy, borrowing against its securities to enhance income potential while using interest rate hedges to manage risk. AGNC's investment objective is to generate attractive monthly dividends and long-term capital appreciation for its shareholders.

Founded in 2008 and headquartered in Bethesda, Maryland, AGNC focuses exclusively on U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source