Acadian Asset Management LLC boosted its holdings in shares of Ellington Financial Inc (NYSE:EFC) by 1,657.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,452 shares of the financial services provider’s stock after purchasing an additional 89,077 shares during the quarter. Acadian Asset Management LLC owned about 0.32% of Ellington Financial worth $1,691,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Advisor Group Inc. increased its holdings in Ellington Financial by 114.6% during the 4th quarter. Advisor Group Inc. now owns 3,980 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 2,125 shares in the last quarter. Virtu Financial LLC acquired a new stake in Ellington Financial during the 1st quarter valued at $189,000. Geode Capital Management LLC increased its holdings in Ellington Financial by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 13,236 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 1,310 shares in the last quarter. California Public Employees Retirement System acquired a new stake in Ellington Financial during the 4th quarter valued at $361,000. Finally, Bank of Montreal Can acquired a new stake in Ellington Financial during the 1st quarter valued at $448,000. Institutional investors own 57.32% of the company’s stock.
Shares of NYSE:EFC traded up $0.28 during midday trading on Friday, hitting $17.97. The company had a trading volume of 3,583,300 shares, compared to its average volume of 205,727. Ellington Financial Inc has a 12 month low of $14.69 and a 12 month high of $18.49. The company has a current ratio of 70.32, a quick ratio of 70.32 and a debt-to-equity ratio of 3.43. The company has a market cap of $526.28 million, a PE ratio of 12.74 and a beta of 0.45. The business has a fifty day moving average of $18.01.
The firm also recently announced a monthly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.68 annualized dividend and a yield of 9.35%. Ellington Financial’s dividend payout ratio is presently 119.15%.
A number of research firms recently weighed in on EFC. Maxim Group reaffirmed a “buy” rating and set a $19.50 price target on shares of Ellington Financial in a report on Thursday, April 11th. Zacks Investment Research upgraded Ellington Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.10.
Ellington Financial Profile
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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