Ellington Financial Inc. (NYSE:EFC) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. reduced its position in shares of Ellington Financial Inc. (NYSE:EFC - Free Report) by 34.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 493,888 shares of the financial services provider's stock after selling 255,419 shares during the period. Harbor Capital Advisors Inc. owned about 0.54% of Ellington Financial worth $6,549,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in shares of Ellington Financial by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 81,097 shares of the financial services provider's stock worth $983,000 after acquiring an additional 873 shares during the period. Maryland State Retirement & Pension System grew its position in Ellington Financial by 3.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 30,531 shares of the financial services provider's stock worth $370,000 after purchasing an additional 880 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Ellington Financial by 4.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,364 shares of the financial services provider's stock valued at $259,000 after purchasing an additional 900 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Ellington Financial by 162.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,602 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 1,610 shares during the period. Finally, CenterStar Asset Management LLC raised its holdings in shares of Ellington Financial by 14.6% during the first quarter. CenterStar Asset Management LLC now owns 12,828 shares of the financial services provider's stock valued at $170,000 after buying an additional 1,638 shares during the last quarter. Institutional investors own 55.62% of the company's stock.

Ellington Financial Price Performance

Shares of Ellington Financial stock traded down $0.20 on Friday, hitting $12.88. The company had a trading volume of 762,084 shares, compared to its average volume of 980,742. 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 10.87, a current ratio of 37.04 and a quick ratio of 37.04. The company has a market cap of $1.22 billion, a PE ratio of 9.83 and a beta of 0.99. The business has a 50-day simple moving average of $12.66 and a 200-day simple moving average of $12.69.

Ellington Financial (NYSE:EFC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. The firm had revenue of $82.91 million during the quarter, compared to analyst estimates of $107.06 million. Research analysts expect that Ellington Financial Inc. will post 1.38 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a yield of 12.12%. The ex-dividend date of this dividend is Monday, June 30th. Ellington Financial's payout ratio is currently 110.64%.

Wall Street Analysts Forecast Growth

EFC has been the topic of several analyst reports. B. Riley raised their target price on Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. UBS Group reissued a "neutral" rating on shares of Ellington Financial in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Ellington Financial from $13.75 to $14.50 and gave the company an "outperform" rating in a research note on Monday, March 3rd.

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.