Bank of America Corp DE Purchases Shares of 7,110,171 AGNC Investment Corp. $AGNC

Key Points

• Bank of America acquired 7.11 million AGNC Investment shares during the second quarter, valued at approximately $77.5 million and representing about 0.60% of the mortgage REIT. Institutional investors collectively owned 38.28% of the company.
• Analyst sentiment remains mixed, with four Buy ratings and seven Holds; AGNC has a consensus rating of Hold and an average price target of $11.11.
• AGNC reported quarterly EPS of $0.40, exceeding the $0.38 consensus estimate, and announced a monthly dividend of $0.12 per share, implying an annualized yield of approximately 14.6%.

Bank of America Corp DE acquired a new position in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,110,171 shares of the real estate investment trust's stock, valued at approximately $77,501,000. Bank of America Corp DE owned about 0.60% of AGNC Investment at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of AGNC Investment in the 2nd quarter worth about $704,076,000. Geode Capital Management LLC raised its position in AGNC Investment by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 29,097,741 shares of the real estate investment trust's stock valued at $312,275,000 after buying an additional 1,596,244 shares during the last quarter. Norges Bank bought a new position in AGNC Investment during the 4th quarter valued at $141,830,000. Equity Investment Corp purchased a new position in AGNC Investment during the 2nd quarter worth $106,123,000. Finally, Bank of New York Mellon Corp purchased a new position in AGNC Investment during the 2nd quarter worth $40,182,000. 38.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of AGNC Investment from $11.50 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of AGNC Investment from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Keefe, Bruyette & Woods dropped 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 report on Wednesday, July 22nd. Compass Point downgraded AGNC Investment from a "buy" rating to a "neutral" rating and set a $11.50 target price on the stock. in a research note on Friday, July 17th. Finally, Wells Fargo & Company reduced their target price on AGNC Investment from $12.00 to $11.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, AGNC Investment has a consensus rating of "Hold" and an average price target of $11.11.

Insider Buying and Selling at AGNC Investment

In other news, EVP Bernice Bell sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $11.00, for a total value of $55,000.00. Following the sale, the executive vice president owned 406,947 shares of the company's stock, valued at $4,476,417. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is owned by insiders.

AGNC Investment Trading Down 0.4%

AGNC Investment stock opened at $9.87 on Friday. AGNC Investment Corp. has a 12 month low of $9.63 and a 12 month high of $12.19. The business's 50 day simple moving average is $10.72 and its 200 day simple moving average is $10.59. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 5.19 and a beta of 1.32.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last released its earnings results on Monday, July 20th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. AGNC Investment had a return on equity of 17.96% and a net margin of 57.94%.The business had revenue of $305.00 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted ($0.17) earnings per share. As a group, equities research analysts forecast that AGNC Investment Corp. will post 1.6 earnings per share for the current fiscal year.

AGNC Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.12 per share. This represents a c) dividend on an annualized basis and a yield of 14.6%. The ex-dividend date is Wednesday, September 30th. AGNC Investment's dividend payout ratio (DPR) is currently 75.79%.

About AGNC Investment

AGNC Investment Corp. is a real estate investment trust that invests primarily in residential mortgage pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a U.S. government-sponsored enterprise or agency, such as Fannie Mae, Freddie Mac or Ginnie Mae. These investments are commonly referred to as agency mortgage-backed securities.

The company seeks to generate income from its investment portfolio, primarily through the difference between the yield on its mortgage assets and its borrowing costs.

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