BlackRock Inc. Buys New Shares in AGNC Investment Corp. $AGNC

Key Points

• BlackRock acquired 64.6 million AGNC shares worth approximately $704.1 million, giving it a 5.45% stake in the mortgage REIT. Institutional investors collectively own 38.28% of the company.
• Analyst sentiment remains mixed, with four Buy ratings and seven Holds; the stock has an average rating of Hold and an average price target of $11.11.
• AGNC reported quarterly EPS of $0.40, topping estimates of $0.38, and declared a monthly dividend of $0.12 per share, representing an annualized yield of about 13.2%.

BlackRock Inc. bought a new position in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 64,594,088 shares of the real estate investment trust's stock, valued at approximately $704,076,000. BlackRock Inc. owned approximately 5.45% of AGNC Investment at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avion Wealth raised its stake in AGNC Investment by 286.3% during the first quarter. Avion Wealth now owns 2,727 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 2,021 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of AGNC Investment during the second quarter valued at approximately $28,000. National Bank of Canada FI grew its position in AGNC Investment by 100.9% in the 3rd quarter. National Bank of Canada FI now owns 3,365 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 1,690 shares during the last quarter. WealthCollab LLC bought a new position in shares of AGNC Investment in the third quarter worth about $33,000. Finally, Financial Life Planners bought a new stake in shares of AGNC Investment during the first quarter valued at approximately $37,000. 38.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AGNC. Weiss Ratings raised shares of AGNC Investment from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Piper Sandler boosted their price target on AGNC Investment from $11.50 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of AGNC Investment from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. 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 report on Friday, July 17th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $11.50 target price (up from $11.00) on shares of AGNC Investment in a research report on Friday, July 17th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $11.11.

AGNC Investment Trading Down 0.3%

Shares of AGNC opened at $10.89 on Friday. AGNC Investment Corp. has a 12 month low of $9.62 and a 12 month high of $12.19. The stock's 50 day moving average is $10.83 and its two-hundred day moving average is $10.71. The firm has a market cap of $12.91 billion, a P/E ratio of 5.73 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 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. AGNC Investment had a net margin of 57.94% and a return on equity of 17.96%. The business had revenue of $305.00 million during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Equities research analysts forecast that AGNC Investment Corp. will post 1.6 EPS for the current year.

AGNC Investment Dividend Announcement

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

Insider Activity

In related news, EVP Bernice Bell sold 5,000 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 406,947 shares in the company, valued at approximately $4,476,417. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.40% of the company's stock.

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.

Want to see what other hedge funds are holding AGNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AGNC Investment Corp. (NASDAQ:AGNC - Free Report).

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