Summit Securities Group LLC Sells 35,300 Shares of AGNC Investment Corp. $AGNC

Key Points

• Summit Securities Group LLC reduced its stake in AGNC Investment Corp. by 83.6%, owning 6,900 shares worth $66,000 after selling 35,300 shares in Q1.
• AGNC reported a quarterly EPS of $0.38, missing the consensus estimate of $0.42, with revenues significantly higher than expected at $830 million.
• The company declared a monthly dividend of $0.12 per share, which translates to an annualized yield of 15.0%, despite a high payout ratio of 423.53%.

Summit Securities Group LLC decreased its holdings in shares of AGNC Investment Corp. (NASDAQ:AGNC - Free Report) by 83.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,900 shares of the real estate investment trust's stock after selling 35,300 shares during the quarter. Summit Securities Group LLC's holdings in AGNC Investment were worth $66,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new position in AGNC Investment in the 4th quarter worth approximately $26,000. N.E.W. Advisory Services LLC purchased a new position in AGNC Investment in the first quarter worth $28,000. Larson Financial Group LLC boosted its holdings in shares of AGNC Investment by 326.3% in the 1st quarter. Larson Financial Group LLC now owns 3,291 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 2,519 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in AGNC Investment in the first quarter worth approximately $35,000. Finally, Rossby Financial LCC purchased a new stake in AGNC Investment in the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 38.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jones Trading reaffirmed a "buy" rating and issued a $9.50 price objective on shares of AGNC Investment in a research note on Tuesday, July 22nd. Argus restated a "hold" rating on shares of AGNC Investment in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods upped their price target on shares of AGNC Investment from $9.50 to $10.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Wall Street Zen cut AGNC Investment from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Finally, UBS Group increased their target price on AGNC Investment from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.58.

AGNC Investment Trading Down 0.7%

NASDAQ AGNC traded down $0.07 on Thursday, hitting $9.64. The company's stock had a trading volume of 15,836,052 shares, compared to its average volume of 25,293,727. The company's 50-day simple moving average is $9.42 and its 200 day simple moving average is $9.43. AGNC Investment Corp. has a 52-week low of $7.85 and a 52-week high of $10.85. The firm has a market cap of $10.04 billion, a P/E ratio of 28.35 and a beta of 1.28. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.01.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.04). AGNC Investment had a return on equity of 19.32% and a net margin of 11.50%.The business had revenue of $830.00 million during the quarter, compared to analysts' expectations of $447.37 million. During the same period in the previous year, the business earned $0.53 EPS. Research analysts predict that AGNC Investment Corp. will post 1.61 EPS for the current fiscal year.

AGNC Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 29th. This represents a c) annualized dividend and a yield of 14.9%. AGNC Investment's dividend payout ratio (DPR) is 423.53%.

Insider Activity

In other AGNC Investment news, Director Paul E. Mullings sold 11,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $9.61, for a total value of $105,710.00. Following the completion of the sale, the director directly owned 128,511 shares in the company, valued at $1,234,990.71. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John D. Fisk sold 20,278 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $9.65, for a total transaction of $195,682.70. Following the completion of the sale, the director owned 112,685 shares of the company's stock, valued at $1,087,410.25. This trade represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.42% of the company's stock.

AGNC Investment Profile

AGNC Investment Corp., formerly American Capital Agency Corp., is a real estate investment trust. The Company invests in agency residential mortgage-backed securities on a leveraged basis. Its investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).