Renaissance Technologies LLC Reduces Stock Position in AGNC Investment Corp. $AGNC

Key Points

• Renaissance Technologies cut its AGNC Investment stake by 73.1% in the first quarter, selling 5.02 million shares and retaining 1.84 million shares worth approximately $18.5 million. Institutional investors collectively own 38.28% of the stock.
• Analysts maintain a generally neutral outlook, with a consensus “Hold” rating and an average price target of $11.11. AGNC recently reported quarterly EPS of $0.40, exceeding estimates of $0.38.
• AGNC announced a monthly dividend of $0.12 per share, representing an annualized yield of about 13.2%; company insiders also recently sold shares, while insiders own 0.40% of the stock.

Renaissance Technologies LLC trimmed its position in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) by 73.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,844,929 shares of the real estate investment trust's stock after selling 5,016,750 shares during the quarter. Renaissance Technologies LLC owned 0.16% of AGNC Investment worth $18,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthspire Advisors LLC boosted its stake in shares of AGNC Investment by 0.9% during the 4th quarter. Wealthspire Advisors LLC now owns 104,287 shares of the real estate investment trust's stock worth $1,118,000 after acquiring an additional 907 shares during the last quarter. Davidson Trust Co. increased its stake in shares of AGNC Investment by 4.4% in the 1st quarter. Davidson Trust Co. now owns 23,341 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 985 shares in the last quarter. Lido Advisors LLC raised its holdings in AGNC Investment by 10.4% in the 4th quarter. Lido Advisors LLC now owns 11,152 shares of the real estate investment trust's stock worth $112,000 after purchasing an additional 1,046 shares during the period. Sound Income Strategies LLC raised its holdings in AGNC Investment by 61.1% in the 4th quarter. Sound Income Strategies LLC now owns 2,762 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 1,048 shares during the period. Finally, Motiv8 Investments LLC lifted its position in AGNC Investment by 6.0% during the fourth quarter. Motiv8 Investments LLC now owns 18,621 shares of the real estate investment trust's stock valued at $200,000 after purchasing an additional 1,049 shares in the last quarter. 38.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AGNC Investment

In other news, Director Donna Blank sold 22,000 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $10.78, for a total transaction of $237,160.00. Following the transaction, the director owned 96,471 shares in the company, valued at approximately $1,039,957.38. This trade represents a 18.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Bernice Bell sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $11.00, for a total transaction of $55,000.00. Following the transaction, the executive vice president directly owned 406,947 shares in the company, valued at $4,476,417. This trade represents a 1.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AGNC. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $11.50 price objective (up from $11.00) on shares of AGNC Investment in a research note on Friday, July 17th. Wall Street Zen upgraded shares of AGNC Investment from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Compass Point downgraded shares of AGNC Investment from a "buy" rating to a "neutral" rating and set a $11.50 price target on the stock. in a report on Friday, July 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AGNC Investment in a report on Wednesday, June 24th. Finally, UBS Group upped their price target on shares of AGNC Investment from $10.50 to $11.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $11.11.

AGNC Investment Stock Up 0.2%

AGNC stock opened at $10.92 on Friday. AGNC Investment Corp. has a 52 week low of $9.31 and a 52 week high of $12.19. The firm has a market capitalization of $12.54 billion, a P/E ratio of 5.75 and a beta of 1.31. The company has a fifty day simple moving average of $10.66 and a two-hundred day simple moving average of $10.81.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last announced its earnings results on Monday, July 20th. The real estate investment trust reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. The firm had revenue of $305.00 million during the quarter, compared to analysts' expectations of $1.06 billion. AGNC Investment had a return on equity of 18.20% and a net margin of 57.94%.During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, analysts anticipate that AGNC Investment Corp. will post 1.6 EPS for the current year.

AGNC Investment Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. AGNC Investment's dividend payout ratio (DPR) is 75.79%.

About AGNC Investment

AGNC Investment Corp. is a self-managed real estate investment trust (REIT) that primarily acquires and manages a portfolio of residential mortgage-backed securities guaranteed by U.S. government-sponsored enterprises such as Ginnie Mae, Fannie Mae and Freddie Mac. The company employs a leveraged total return strategy, borrowing against its securities to enhance income potential while using interest rate hedges to manage risk. AGNC's investment objective is to generate attractive monthly dividends and long-term capital appreciation for its shareholders.

Founded in 2008 and headquartered in Bethesda, Maryland, AGNC focuses exclusively on U.S.

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