Vanguard Group Inc. Acquires 171,445 Shares of Ellington Financial Inc. $EFC

Key Points

• Vanguard Group Inc. increased its stake in Ellington Financial Inc. by 3.0% during the first quarter, owning approximately 6.25% of the company worth $78.2 million.
• Ellington Financial reported a net margin of 89.52% and earnings per share of $0.47, exceeding analysts' expectations for the quarter.
• The company declared a monthly dividend of $0.13 per share, resulting in an annualized dividend yield of 11.1%, despite a payout ratio of 125.81%.

Vanguard Group Inc. increased its holdings in Ellington Financial Inc. (NYSE:EFC - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,899,538 shares of the financial services provider's stock after buying an additional 171,445 shares during the quarter. Vanguard Group Inc. owned 6.25% of Ellington Financial worth $78,228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in Ellington Financial by 814.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,644 shares of the financial services provider's stock worth $32,000 after acquiring an additional 2,355 shares during the period. State of Wyoming bought a new stake in Ellington Financial during the 4th quarter worth approximately $56,000. GAMMA Investing LLC raised its stake in Ellington Financial by 243.8% during the 1st quarter. GAMMA Investing LLC now owns 4,800 shares of the financial services provider's stock worth $64,000 after acquiring an additional 3,404 shares during the period. Versant Capital Management Inc raised its stake in Ellington Financial by 1,824.5% during the 1st quarter. Versant Capital Management Inc now owns 5,581 shares of the financial services provider's stock worth $74,000 after acquiring an additional 5,291 shares during the period. Finally, Mariner LLC bought a new stake in Ellington Financial during the 4th quarter worth approximately $143,000. Hedge funds and other institutional investors own 55.62% of the company's stock.

Ellington Financial Price Performance

Shares of NYSE EFC traded down $0.05 during mid-day trading on Thursday, reaching $13.75. 643,515 shares of the company were exchanged, compared to its average volume of 1,062,053. Ellington Financial Inc. has a 52 week low of $11.12 and a 52 week high of $14.40. 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 market capitalization of $1.37 billion, a PE ratio of 11.08 and a beta of 1.00. The company's 50 day moving average price is $13.23 and its 200 day moving average price is $13.00.

Ellington Financial (NYSE:EFC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.47 earnings per share for the quarter, topping 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 business had revenue of $92.54 million during the quarter, compared to the consensus estimate of $112.48 million. Sell-side analysts forecast that Ellington Financial Inc. will post 1.38 earnings per share for the current fiscal year.

Ellington Financial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a c) dividend on an annualized basis and a yield of 11.3%. The ex-dividend date is Friday, August 29th. Ellington Financial's dividend payout ratio is 125.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jones Trading upgraded shares of Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price objective on the stock in a research report on Wednesday, August 13th. Piper Sandler reduced their price objective on shares of Ellington Financial from $15.00 to $14.50 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. Zacks Research upgraded shares of Ellington Financial to a "strong-buy" rating in a research report on Tuesday, August 12th. UBS Group lifted their price objective on shares of Ellington Financial from $12.00 to $12.50 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Finally, B. Riley lifted their price objective on shares of Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Ellington Financial has a consensus rating of "Buy" and a consensus price target of $14.29.

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.