Prevail Innovative Wealth Advisors LLC Purchases 142,721 Shares of Ellington Financial Inc. (NYSE:EFC)

Prevail Innovative Wealth Advisors LLC increased its holdings in Ellington Financial Inc. (NYSE:EFC - Free Report) by 896.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,641 shares of the financial services provider's stock after acquiring an additional 142,721 shares during the period. Prevail Innovative Wealth Advisors LLC owned about 0.17% of Ellington Financial worth $2,104,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Invesco Ltd. lifted its stake in Ellington Financial by 17.2% in the fourth quarter. Invesco Ltd. now owns 2,364,583 shares of the financial services provider's stock valued at $28,659,000 after purchasing an additional 347,587 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ellington Financial by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 2,008,827 shares of the financial services provider's stock valued at $24,353,000 after purchasing an additional 43,531 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ellington Financial by 4.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,054 shares of the financial services provider's stock valued at $17,817,000 after purchasing an additional 67,807 shares during the last quarter. Northern Trust Corp lifted its stake in Ellington Financial by 39.8% in the fourth quarter. Northern Trust Corp now owns 1,092,902 shares of the financial services provider's stock valued at $13,246,000 after purchasing an additional 311,406 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Ellington Financial by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 821,024 shares of the financial services provider's stock valued at $9,951,000 after purchasing an additional 42,093 shares during the last quarter. 55.62% of the stock is owned by institutional investors.

Ellington Financial Stock Performance

Shares of NYSE:EFC traded up $0.17 during midday trading on Wednesday, reaching $13.37. 806,320 shares of the company traded hands, compared to its average volume of 972,579. The company has a quick ratio of 42.26, a current ratio of 42.26 and a debt-to-equity ratio of 11.11. Ellington Financial Inc. has a 12 month low of $11.12 and a 12 month high of $14.40. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.48 and a beta of 0.98. The firm's fifty day moving average price is $12.92 and its two-hundred day moving average price is $12.81.

Ellington Financial (NYSE:EFC - Get Free Report) last released its quarterly earnings data 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 12.06% and a net margin of 101.59%. The company had revenue of $82.91 million for the quarter, compared to analyst estimates of $107.06 million. On average, equities analysts expect that Ellington Financial Inc. will post 1.38 earnings per share for the current year.

Ellington Financial Announces Dividend

The business also recently disclosed a jul 25 dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, July 31st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a dividend yield of 11.8%. Ellington Financial's payout ratio is 110.64%.

Wall Street Analysts Forecast Growth

EFC has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. B. Riley upped their price objective on Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, UBS Group upped their price objective on Ellington Financial from $12.00 to $12.50 and gave the company a "neutral" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.30.

Ellington Financial 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.