Legal & General Group Plc purchased a new position in Ellington Financial Inc. (NYSE:EFC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 271,498 shares of the financial services provider's stock, valued at approximately $3,695,000. Legal & General Group Plc owned 0.21% of Ellington Financial as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EFC. The Manufacturers Life Insurance Company bought a new position in shares of Ellington Financial in the 2nd quarter worth $701,000. Quantbot Technologies LP purchased a new position in Ellington Financial in the second quarter valued at about $399,000. Allworth Financial LP bought a new position in Ellington Financial in the second quarter worth about $95,000. one8zero8 LLC bought a new position in Ellington Financial in the second quarter worth about $150,000. Finally, Alpine Woods Capital Investors LLC bought a new stake in shares of Ellington Financial in the 2nd quarter valued at about $260,000. 55.62% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ellington Financial in a research report on Tuesday, August 11th. UBS Group boosted their target price on Ellington Financial from $14.00 to $14.50 and gave the stock a "neutral" rating in a research note on Wednesday, August 19th. Zacks Research cut Ellington Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Wall Street Zen raised Ellington Financial from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, BTIG Research lowered Ellington Financial from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 17th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.50.
Check Out Our Latest Research Report on Ellington Financial
Ellington Financial Price Performance
Shares of NYSE:EFC opened at $13.50 on Friday. Ellington Financial Inc. has a twelve month low of $11.27 and a twelve month high of $14.12. The company has a current ratio of 52.06, a quick ratio of 52.06 and a debt-to-equity ratio of 10.39. The company has a market cap of $1.74 billion, a PE ratio of 8.23 and a beta of 0.94. The company's 50 day moving average is $13.50 and its 200 day moving average is $13.07.
Ellington Financial (NYSE:EFC - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $134.11 million for the quarter, compared to the consensus estimate of $114.59 million. Ellington Financial had a net margin of 52.43% and a return on equity of 16.61%. On average, sell-side analysts forecast that Ellington Financial Inc. will post 2.13 EPS for the current year.
Ellington Financial Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be issued a dividend of $0.13 per share. This represents a c) annualized dividend and a yield of 11.6%. The ex-dividend date of this dividend is Monday, August 31st. Ellington Financial's dividend payout ratio (DPR) is 95.12%.
About Ellington Financial
(
Free Report)
Ellington Financial, Inc NYSE: EFC is a mortgage real estate investment trust (REIT) that focuses on generating attractive risk-adjusted returns through investments in residential and commercial mortgage-related assets. Established in 2013, the company is externally managed by Ellington Financial Management, L.P., a subsidiary of Ellington Management Group, an alternative asset management firm. EFC's core strategy centers on actively acquiring and managing agency and non-agency residential mortgage-backed securities (MBS), mortgage servicing rights, residential whole loans, and other structured finance instruments, including asset-backed securities and commercial mortgage-backed securities (CMBS).
The company employs leverage and structured financing tools—such as repurchase agreements and secured credit facilities—to enhance portfolio yield while maintaining focus on risk mitigation.
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Want to see what other hedge funds are holding EFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellington Financial Inc. (NYSE:EFC - Free Report).
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