Insider Selling: AGNC Investment (NASDAQ:AGNC) CEO Sells 67,794 Shares of Stock

Key Points

• AGNC Investment CEO Peter Federico sold 67,794 shares for approximately $602,689 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 3.42% to 1.91 million shares.
• AGNC reported quarterly EPS of $0.37, matching analyst expectations, while revenue of $1.20 billion exceeded the $1.06 billion consensus estimate.
• The company declared a monthly dividend of $0.12 per share, or $1.44 annualized, representing a 16.2% yield; analysts maintain a consensus “Hold” rating with a $10.12 target price.

AGNC Investment Corp. (NASDAQ:AGNC - Get Free Report) CEO Peter Federico sold 67,794 shares of the firm's stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $8.89, for a total value of $602,688.66. Following the completion of the sale, the chief executive officer owned 1,913,877 shares in the company, valued at approximately $17,014,366.53. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AGNC Investment Stock Performance

NASDAQ AGNC traded up $0.09 during trading on Tuesday, reaching $8.87. 25,135,481 shares of the company's stock were exchanged, compared to its average volume of 21,883,959. The company has a 50 day moving average price of $9.76 and a two-hundred day moving average price of $10.55. The stock has a market cap of $10.52 billion, a P/E ratio of 887.89 and a beta of 1.36. AGNC Investment Corp. has a 1 year low of $8.38 and a 1 year high of $12.19.

AGNC Investment (NASDAQ:AGNC - Get Free Report) last released its quarterly earnings data on Monday, October 19th. The real estate investment trust reported $0.37 EPS for the quarter, meeting analysts' consensus estimates of $0.37. AGNC Investment had a return on equity of 18.74% and a net margin of 2.45%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.06 billion. Research analysts forecast that AGNC Investment Corp. will post 1.58 EPS for the current fiscal year.

AGNC Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Friday, October 30th will be paid a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 16.2%. The ex-dividend date is Friday, October 30th. AGNC Investment's dividend payout ratio is currently 14,400.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AGNC shares. Barclays reduced their price objective on shares of AGNC Investment from $10.00 to $9.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 21st. Compass Point downgraded AGNC Investment from a "buy" rating to a "neutral" rating and set a $11.50 target price for the company. in a report on Friday, July 17th. Piper Sandler decreased their target price on AGNC Investment from $12.00 to $10.00 and set an "overweight" rating for the company in a research report on Friday, October 9th. Royal Bank Of Canada dropped their price target on AGNC Investment from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 21st. Finally, Keefe, Bruyette & Woods cut their price target on AGNC Investment from $12.00 to $11.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $10.12.

Institutional Investors Weigh In On AGNC Investment

A number of institutional investors and hedge funds have recently made changes to their positions in AGNC. BlackRock Inc. purchased a new position in shares of AGNC Investment in the 2nd quarter valued at approximately $704,076,000. Equity Investment Corp acquired a new position in AGNC Investment in the 2nd quarter valued at $106,123,000. Bank of America Corp DE acquired a new position in AGNC Investment in the 2nd quarter valued at $77,501,000. Van ECK Associates Corp raised its position in AGNC Investment by 17.2% during the 2nd quarter. Van ECK Associates Corp now owns 5,190,499 shares of the real estate investment trust's stock worth $56,576,000 after buying an additional 763,109 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in AGNC Investment during the 2nd quarter worth $40,182,000. 38.28% of the stock is owned by hedge funds and other institutional investors.

About AGNC Investment

AGNC Investment Corp. is a real estate investment trust (REIT) that invests primarily in residential mortgage pass-through securities and collateralized mortgage obligations for which principal and interest payments are guaranteed by a U.S. government-sponsored enterprise or a U.S. government agency. These investments are commonly referred to as agency mortgage-backed securities.

The company seeks to generate income through the difference between the yield on its investment portfolio and its borrowing costs, while managing interest-rate, prepayment and other market risks.

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