Delphi Financial Group Inc. Buys 171,926 Shares of Ellington Financial Inc. (NYSE:EFC)

Key Points

• Delphi Financial Group Inc. has increased its stake in Ellington Financial Inc. by 44.3%, owning 560,057 shares, making it the 8th largest position in its portfolio.
• Multiple institutional investors have significantly increased their holdings in Ellington Financial, with Sterling Capital Management raising their position by 814.9%.
• Ellington Financial reported $0.47 earnings per share, exceeding the consensus estimate of $0.40, while its dividend yield is an impressive 1,180.0%.

Delphi Financial Group Inc. boosted its stake in Ellington Financial Inc. (NYSE:EFC - Free Report) by 44.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 560,057 shares of the financial services provider's stock after purchasing an additional 171,926 shares during the quarter. Ellington Financial comprises approximately 4.5% of Delphi Financial Group Inc.'s holdings, making the stock its 8th largest holding. Delphi Financial Group Inc. owned 0.59% of Ellington Financial worth $7,426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of EFC. Sterling Capital Management LLC grew its stake in Ellington Financial by 814.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,644 shares of the financial services provider's stock worth $32,000 after acquiring an additional 2,355 shares in the last quarter. State of Wyoming bought a new position in shares of Ellington Financial during the fourth quarter valued at approximately $56,000. GAMMA Investing LLC boosted its stake in shares of Ellington Financial by 243.8% during the first quarter. GAMMA Investing LLC now owns 4,800 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 3,404 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Ellington Financial by 1,824.5% during the first quarter. Versant Capital Management Inc now owns 5,581 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 5,291 shares in the last quarter. Finally, Mariner LLC acquired a new stake in Ellington Financial in the fourth quarter valued at approximately $143,000. Hedge funds and other institutional investors own 55.62% of the company's stock.

Ellington Financial Trading Up 2.1%

Shares of NYSE EFC traded up $0.28 during midday trading on Tuesday, reaching $13.44. 671,252 shares of the stock were exchanged, compared to its average volume of 1,044,701. The company has a market capitalization of $1.27 billion, a P/E ratio of 10.82 and a beta of 1.00. Ellington Financial Inc. has a 52-week low of $11.12 and a 52-week high of $14.40. The company has a current ratio of 46.78, a quick ratio of 42.26 and a debt-to-equity ratio of 10.96. The stock has a 50 day moving average price of $12.99 and a 200-day moving average price of $12.91.

Ellington Financial (NYSE:EFC - Get Free Report) last posted its earnings results on Thursday, August 7th. The financial services provider reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.07. The business had revenue of $92.54 million for the quarter, compared to analysts' expectations of $112.48 million. Ellington Financial had a net margin of 89.52% and a return on equity of 13.56%. Equities research analysts expect that Ellington Financial Inc. will post 1.38 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 11.6%. Ellington Financial's dividend payout ratio is currently 125.81%.

Wall Street Analyst Weigh In

EFC has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Ellington Financial from $12.00 to $12.50 and gave the company a "neutral" rating in a research note on Thursday, July 10th. B. Riley raised their target price on shares of Ellington Financial from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Piper Sandler dropped their price target on shares of Ellington Financial from $15.00 to $14.50 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Ellington Financial presently has an average rating of "Moderate Buy" and a consensus price target of $14.30.

Ellington Financial Profile

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.