Ellington Financial Inc. $EFC Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs has reduced its stake in Ellington Financial by 17.2%, selling 98,946 shares and retaining 477,752 shares valued at approximately $6.34 million.
• Ellington Financial recently reported earnings per share of $0.47, exceeding analysts' expectations, despite lower revenue of $92.54 million compared to a consensus estimate of $112.48 million.
• The company declared a $0.13 dividend set to be paid on October 31st, representing an extraordinary yield of 1,140.0%, with a dividend payout ratio of 125.81%.

Goldman Sachs Group Inc. decreased its stake in shares of Ellington Financial Inc. (NYSE:EFC - Free Report) by 17.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 477,752 shares of the financial services provider's stock after selling 98,946 shares during the period. Goldman Sachs Group Inc. owned 0.51% of Ellington Financial worth $6,335,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State of Wyoming purchased a new position in Ellington Financial during the fourth quarter worth $56,000. GAMMA Investing LLC increased its position in Ellington Financial by 243.8% during the first quarter. GAMMA Investing LLC now owns 4,800 shares of the financial services provider's stock worth $64,000 after buying an additional 3,404 shares in the last quarter. Versant Capital Management Inc increased its position in 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 worth $74,000 after buying an additional 5,291 shares in the last quarter. Russell Investments Group Ltd. increased its position in Ellington Financial by 99.4% during the first quarter. Russell Investments Group Ltd. now owns 9,918 shares of the financial services provider's stock worth $132,000 after buying an additional 4,944 shares in the last quarter. Finally, WealthTrust Axiom LLC purchased a new position in Ellington Financial during the first quarter worth $138,000. Hedge funds and other institutional investors own 55.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Zacks Research raised Ellington Financial to a "strong-buy" rating in a research report on Tuesday, August 12th. Jones Trading raised Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price objective for the company in a research report on Wednesday, August 13th. UBS Group lifted their price objective on Ellington Financial from $12.50 to $13.50 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Finally, Piper Sandler lowered their price objective on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Ellington Financial currently has a consensus rating of "Buy" and a consensus target price of $14.46.

Ellington Financial Trading Down 0.1%

EFC stock traded down $0.01 during trading on Friday, reaching $13.22. 426,746 shares of the stock traded hands, compared to its average volume of 1,096,824. The business's 50 day moving average price is $13.39 and its 200-day moving average price is $13.05. Ellington Financial Inc. has a 52-week low of $11.12 and a 52-week high of $14.40. The company has a debt-to-equity ratio of 10.96, a current ratio of 46.78 and a quick ratio of 46.78. The firm has a market capitalization of $1.32 billion, a PE ratio of 10.66 and a beta of 1.00.

Ellington Financial (NYSE:EFC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. Ellington Financial had a return on equity of 13.56% and a net margin of 89.52%.The firm had revenue of $92.54 million during the quarter, compared to the consensus estimate of $112.48 million. As a group, sell-side analysts forecast that Ellington Financial Inc. will post 1.38 earnings per share for the current year.

Ellington Financial Dividend Announcement

The business also recently disclosed a sep 25 dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.13 per share. This represents a dividend yield of 1,140.0%. The ex-dividend date is Tuesday, September 30th. Ellington Financial's payout ratio is currently 125.81%.

Ellington Financial Company 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.