Engineers Gate Manager LP Cuts Holdings in AGNC Investment Corp. $AGNC

Key Points

• Engineers Gate Manager LP cut its AGNC Investment stake by 92.6% in the second quarter, selling 216,289 shares and retaining 17,242 shares valued at approximately $188,000. Institutional investors collectively own 38.28% of the company.
• AGNC reported quarterly EPS of $0.40, exceeding analyst expectations of $0.38, while revenue totaled $305 million. The company declared a monthly dividend of $0.12, equating to an annualized $1.44 payout and a 15.0% yield.
• AGNC shares opened at $9.62, near their 12-month low of $9.51. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $11.11.

Engineers Gate Manager LP lessened its stake in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) by 92.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,242 shares of the real estate investment trust's stock after selling 216,289 shares during the period. Engineers Gate Manager LP's holdings in AGNC Investment were worth $188,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AGNC. Delta Asset Management LLC TN purchased a new position in shares of AGNC Investment during the second quarter valued at approximately $25,000. Danske Bank A S purchased a new stake in shares of AGNC Investment in the second quarter worth approximately $26,000. Osbon Capital Management LLC purchased a new stake in shares of AGNC Investment in the second quarter worth approximately $28,000. N.E.W. Advisory Services LLC bought a new stake in shares of AGNC Investment during the 2nd quarter worth approximately $28,000. Finally, Avion Wealth boosted its holdings in AGNC Investment by 286.3% during the 1st quarter. Avion Wealth now owns 2,727 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 2,021 shares during the period. 38.28% of the stock is currently owned by institutional investors.

AGNC Investment Stock Performance

Shares of NASDAQ AGNC opened at $9.62 on Monday. AGNC Investment Corp. has a 12-month low of $9.51 and a 12-month high of $12.19. The stock's fifty day simple moving average is $10.59 and its two-hundred day simple moving average is $10.55. The stock has a market capitalization of $11.40 billion, a PE ratio of 5.06 and a beta of 1.32.

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

AGNC Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.44 dividend on an annualized basis and a yield of 15.0%. AGNC Investment's payout ratio is currently 75.79%.

Insider Activity at AGNC Investment

In other AGNC Investment news, EVP Bernice Bell sold 5,000 shares of the 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 of the company's stock, valued at approximately $4,476,417. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Piper Sandler upped 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 report on Monday, August 17th. Compass Point cut shares of AGNC Investment from a "buy" rating to a "neutral" rating and set a $11.50 price objective for the company. in a research report on Friday, July 17th. Wells Fargo & Company dropped their target price on shares of AGNC Investment from $12.00 to $11.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set 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 a consensus rating of "Hold" and a consensus target price of $11.11.

AGNC Investment Profile

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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