Jacobs Asset Management LLC Reduces Stock Position in AGNC Investment Corp. $AGNC

Key Points

• Jacobs Asset Management LLC has reduced its stake in AGNC Investment Corp. by 20.1% in the first quarter, now holding 300,000 shares valued at approximately $2.87 million.
• AGNC Investment reported an earnings miss with $0.38 EPS for the quarter, falling short of analysts' expectations of $0.42, while it also announced a monthly dividend of $0.12.
• Hedge funds hold 38.28% of AGNC Investment's stock, with Vanguard Group increasing its position by 3.0% to hold over 85 million shares valued at approximately $821 million.

Jacobs Asset Management LLC cut its holdings in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) by 20.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,000 shares of the real estate investment trust's stock after selling 75,300 shares during the period. AGNC Investment makes up 1.8% of Jacobs Asset Management LLC's portfolio, making the stock its 21st biggest position. Jacobs Asset Management LLC's holdings in AGNC Investment were worth $2,874,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC boosted its position in AGNC Investment by 5.6% in the fourth quarter. Hsbc Holdings PLC now owns 18,259 shares of the real estate investment trust's stock worth $168,000 after purchasing an additional 970 shares during the last quarter. Kovack Advisors Inc. boosted its position in AGNC Investment by 0.5% in the first quarter. Kovack Advisors Inc. now owns 222,310 shares of the real estate investment trust's stock worth $2,130,000 after purchasing an additional 1,186 shares during the last quarter. CoreCap Advisors LLC boosted its position in AGNC Investment by 34.8% in the fourth quarter. CoreCap Advisors LLC now owns 4,765 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 1,229 shares during the last quarter. MetLife Investment Management LLC boosted its position in AGNC Investment by 8.8% in the first quarter. MetLife Investment Management LLC now owns 15,548 shares of the real estate investment trust's stock worth $149,000 after purchasing an additional 1,256 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in AGNC Investment by 24.2% in the first quarter. IFP Advisors Inc now owns 6,479 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 1,261 shares during the last quarter. 38.28% of the stock is owned by hedge funds and other institutional investors.

AGNC Investment Price Performance

AGNC traded down $0.03 on Friday, hitting $9.76. 13,984,463 shares of the company's stock traded hands, compared to its average volume of 16,161,746. The company's 50 day simple moving average is $9.49 and its 200-day simple moving average is $9.41. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 28.71 and a beta of 1.28. AGNC Investment Corp. has a one year low of $7.85 and a one year high of $10.85. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.01.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last issued its earnings results on Monday, July 21st. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.04). AGNC Investment had a net margin of 11.50% and a return on equity of 19.32%. The business had revenue of $830.00 million for the quarter, compared to the consensus estimate of $447.37 million. During the same period last year, the business posted $0.53 EPS. As a group, research analysts anticipate that AGNC Investment Corp. will post 1.61 EPS for the current year.

AGNC Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 14.8%. AGNC Investment's payout ratio is 423.53%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AGNC shares. Jones Trading reissued a "buy" rating and issued a $9.50 target price on shares of AGNC Investment in a research report on Tuesday, July 22nd. Keefe, Bruyette & Woods raised their price objective on AGNC Investment from $9.50 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Wall Street Zen downgraded AGNC Investment from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Finally, UBS Group raised their price objective on AGNC Investment from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.58.

Insider Buying and Selling

In other news, Director Paul E. Mullings sold 11,000 shares of AGNC Investment stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $9.61, for a total value of $105,710.00. Following the completion of the transaction, the director owned 128,511 shares in the company, valued at approximately $1,234,990.71. The trade was a 7.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John D. Fisk sold 20,278 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $9.65, for a total value of $195,682.70. Following the transaction, the director owned 112,685 shares of the company's stock, valued at approximately $1,087,410.25. The trade was a 15.25% decrease in their position. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

About AGNC Investment

AGNC Investment Corp., formerly American Capital Agency Corp., is a real estate investment trust. The Company invests in agency residential mortgage-backed securities on a leveraged basis. Its investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).