MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Ellington Financial Inc. (NYSE:EFC - Free Report) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,387,881 shares of the financial services provider's stock after selling 82,173 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.47% of Ellington Financial worth $18,403,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of EFC. Raymond James Financial Inc. acquired a new stake in shares of Ellington Financial in the fourth quarter worth $254,000. First Trust Advisors LP boosted its holdings in Ellington Financial by 57.4% in the 4th quarter. First Trust Advisors LP now owns 22,064 shares of the financial services provider's stock valued at $267,000 after purchasing an additional 8,045 shares during the period. Price T Rowe Associates Inc. MD grew its position in Ellington Financial by 14.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 68,475 shares of the financial services provider's stock worth $830,000 after purchasing an additional 8,695 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Ellington Financial by 39.8% during the 4th quarter. Northern Trust Corp now owns 1,092,902 shares of the financial services provider's stock worth $13,246,000 after purchasing an additional 311,406 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Ellington Financial by 0.8% in the fourth quarter. Bank of America Corp DE now owns 196,381 shares of the financial services provider's stock valued at $2,380,000 after buying an additional 1,648 shares during the period. 55.62% of the stock is owned by institutional investors.
Ellington Financial Price Performance
NYSE:EFC traded down $0.06 during trading hours on Friday, reaching $13.49. The company had a trading volume of 714,865 shares, compared to its average volume of 1,086,763. The company has a quick ratio of 46.78, a current ratio of 46.78 and a debt-to-equity ratio of 10.96. The stock has a 50-day moving average of $13.38 and a two-hundred day moving average of $13.06. Ellington Financial Inc. has a one year low of $11.12 and a one year high of $14.40. The firm has a market capitalization of $1.35 billion, a PE ratio of 10.88 and a beta of 1.00.
Ellington Financial (NYSE:EFC - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.40 by $0.07. Ellington Financial had a net margin of 89.52% and a return on equity of 13.56%. The company had revenue of $92.54 million for the quarter, compared to the consensus estimate of $112.48 million. Analysts forecast that Ellington Financial Inc. will post 1.38 earnings per share for the current year.
Ellington Financial Dividend Announcement
The company also recently declared a sep 25 dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.13 dividend. The ex-dividend date is Tuesday, September 30th. This represents a yield of 1,140.0%. Ellington Financial's payout ratio is 125.81%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on EFC. Zacks Research upgraded Ellington Financial to a "strong-buy" rating in a research note on Tuesday, August 12th. Piper Sandler decreased their price objective on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. UBS Group boosted 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. Jones Trading raised Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 target price for the company in a research report on Wednesday, August 13th. Finally, B. Riley lifted their price target on shares of Ellington Financial from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $14.46.
Read Our Latest Analysis on Ellington Financial
About Ellington Financial
(
Free Report)
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.
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