OLD National Bancorp IN Invests $340,000 in Annaly Capital Management, Inc. (NYSE:NLY)

OLD National Bancorp IN purchased a new stake in Annaly Capital Management, Inc. (NYSE:NLY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,756 shares of the real estate investment trust's stock, valued at approximately $340,000.

A number of other institutional investors also recently bought and sold shares of NLY. Wernau Asset Management Inc. acquired a new position in shares of Annaly Capital Management during the fourth quarter worth about $229,000. Charles Schwab Investment Management Inc. increased its stake in shares of Annaly Capital Management by 12.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,612,278 shares of the real estate investment trust's stock worth $66,105,000 after acquiring an additional 393,581 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Annaly Capital Management during the fourth quarter worth about $730,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Annaly Capital Management during the fourth quarter worth about $4,448,000. Finally, APG Asset Management N.V. acquired a new position in shares of Annaly Capital Management during the fourth quarter worth about $4,909,000. 51.56% of the stock is currently owned by institutional investors and hedge funds.

Annaly Capital Management Price Performance

NLY traded down $0.31 during trading hours on Friday, reaching $19.18. 5,778,375 shares of the stock traded hands, compared to its average volume of 6,634,010. Annaly Capital Management, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $22.11. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 4.89 and a beta of 1.23. The firm's fifty day simple moving average is $18.91 and its two-hundred day simple moving average is $19.71.

Annaly Capital Management (NYSE:NLY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.01. Annaly Capital Management had a net margin of 20.70% and a return on equity of 14.95%. The firm had revenue of $186.64 million for the quarter, compared to the consensus estimate of $418.04 million. On average, research analysts predict that Annaly Capital Management, Inc. will post 2.81 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.80 dividend on an annualized basis and a yield of 14.60%. Annaly Capital Management's dividend payout ratio (DPR) is 314.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NLY. JPMorgan Chase & Co. dropped their price target on shares of Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada decreased their price objective on shares of Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Tuesday, May 27th. Piper Sandler decreased their price objective on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Jones Trading reissued a "buy" rating and set a $21.00 price objective on shares of Annaly Capital Management in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Annaly Capital Management from $20.15 to $20.50 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Annaly Capital Management currently has an average rating of "Moderate Buy" and an average target price of $21.00.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.