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Avantax Advisory Services Inc. Grows Position in AGNC Investment Corp. (NASDAQ:AGNC)

AGNC Investment logo with Finance background

Key Points

  • Avantax Advisory Services Inc. has increased its holdings in AGNC Investment Corp. by 73% in the first quarter, now owning 127,866 shares valued at approximately $1.23 million.
  • The company recently reported earnings per share (EPS) of $0.38, missing expectations by $0.04, while revenue significantly exceeded estimates at $830 million.
  • AGNC Investment declared a $0.12 dividend payable on August 11, 2023, reflecting a staggering dividend yield of 1,520.0% despite a high payout ratio of 423.53%.
  • MarketBeat previews top five stocks to own in September.

Avantax Advisory Services Inc. increased its stake in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) by 73.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 127,866 shares of the real estate investment trust's stock after acquiring an additional 53,968 shares during the quarter. Avantax Advisory Services Inc.'s holdings in AGNC Investment were worth $1,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fourth Dimension Wealth LLC bought a new position in AGNC Investment during the fourth quarter valued at $26,000. National Bank of Canada FI raised its stake in shares of AGNC Investment by 112.7% in the fourth quarter. National Bank of Canada FI now owns 3,458 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 1,832 shares during the period. Larson Financial Group LLC raised its stake in shares of 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 acquiring an additional 2,519 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of AGNC Investment in the first quarter valued at $35,000. Finally, Rossby Financial LCC purchased a new stake in shares of AGNC Investment in the first quarter valued at $38,000. Institutional investors own 38.28% of the company's stock.

AGNC Investment Stock Performance

Shares of NASDAQ:AGNC traded up $0.15 during trading on Monday, hitting $9.63. 19,524,582 shares of the stock traded hands, compared to its average volume of 21,642,892. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 28.32 and a beta of 1.28. The company has a fifty day moving average price of $9.30 and a two-hundred day moving average price of $9.45. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.01. AGNC Investment Corp. has a 52-week low of $7.85 and a 52-week high of $10.85.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.04). The firm had revenue of $830.00 million for the quarter, compared to analyst estimates of $447.37 million. AGNC Investment had a net margin of 11.50% and a return on equity of 19.63%. During the same period in the previous year, the firm posted $0.53 EPS. As a group, equities analysts predict that AGNC Investment Corp. will post 1.61 EPS for the current year.

AGNC Investment Announces Dividend

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

Wall Street Analysts Forecast Growth

AGNC has been the topic of several recent analyst reports. UBS Group increased their target price 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. Royal Bank Of Canada reduced their price target 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. Keefe, Bruyette & Woods raised their price target on shares of AGNC Investment from $9.50 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Argus reaffirmed a "hold" rating on shares of AGNC Investment in a research note on Tuesday, April 29th. Finally, Jones Trading reaffirmed a "buy" rating and issued a $9.50 price target on shares of AGNC Investment in a research note on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, AGNC Investment presently has a consensus rating of "Hold" and a consensus target price of $9.58.

Check Out Our Latest Stock Report on AGNC

Insider Activity

In other AGNC Investment news, Director Donna Blank sold 17,218 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $8.67, for a total value of $149,280.06. Following the transaction, the director owned 90,345 shares of the company's stock, valued at $783,291.15. This represents a 16.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul E. Mullings sold 11,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $9.61, for a total transaction of $105,710.00. Following the completion of the transaction, the director directly owned 128,511 shares in the company, valued at $1,234,990.71. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,496 shares of company stock valued at $450,673. 0.42% of the stock is currently owned by insiders.

AGNC Investment Profile

(Free Report)

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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Institutional Ownership by Quarter for AGNC Investment (NASDAQ:AGNC)

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