abrdn plc Cuts Stock Position in AGNC Investment Corp. (NASDAQ:AGNC)

Posted by MarketBeat News on Aug 3rd, 2022

abrdn plc cut its holdings in shares of AGNC Investment Corp. (NASDAQ:AGNC – Get Rating) by 69.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,935 shares of the real estate investment trust’s stock after selling 137,994 shares during the period. abrdn plc’s holdings in AGNC Investment were worth $803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Landmark Wealth Management LLC acquired a new position in shares of AGNC Investment during the first quarter worth about $191,000. Joseph P. Lucia & Associates LLC acquired a new position in AGNC Investment in the first quarter valued at approximately $26,000. National Bank of Canada FI acquired a new position in AGNC Investment in the fourth quarter valued at approximately $31,000. Lazard Asset Management LLC acquired a new position in AGNC Investment in the fourth quarter valued at approximately $31,000. Finally, Johnson Financial Group Inc. boosted its holdings in AGNC Investment by 126.0% in the fourth quarter. Johnson Financial Group Inc. now owns 2,780 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 1,550 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

AGNC Investment Trading Down 2.9 %

NASDAQ:AGNC opened at $12.30 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of -6.44 and a beta of 1.07. AGNC Investment Corp. has a 1 year low of $9.99 and a 1 year high of $16.75. The stock has a fifty day moving average price of $11.67 and a two-hundred day moving average price of $12.58.

AGNC Investment (NASDAQ:AGNC – Get Rating) last posted its earnings results on Monday, July 25th. The real estate investment trust reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.24. The company had revenue of $315.00 million for the quarter, compared to analyst estimates of $323.75 million. AGNC Investment had a positive return on equity of 19.20% and a negative net margin of 69.82%. AGNC Investment’s revenue was up 35.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. As a group, sell-side analysts anticipate that AGNC Investment Corp. will post 2.7 earnings per share for the current fiscal year.

AGNC Investment Dividend Announcement

The business also recently disclosed a jul 22 dividend, which will be paid on Tuesday, August 9th. Investors of record on Friday, July 29th will be paid a dividend of $0.12 per share. This represents a dividend yield of 12.4%. The ex-dividend date is Thursday, July 28th. AGNC Investment’s payout ratio is currently -75.39%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AGNC. Barclays decreased their price objective on AGNC Investment from $15.00 to $13.00 in a report on Wednesday, April 27th. Keefe, Bruyette & Woods raised AGNC Investment from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $12.25 to $13.25 in a report on Wednesday, June 8th. JPMorgan Chase & Co. downgraded AGNC Investment from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $14.50 to $11.50 in a report on Monday, April 25th. Royal Bank of Canada cut their price target on AGNC Investment from $17.00 to $14.00 in a research note on Monday, May 16th. Finally, Credit Suisse Group cut their price target on AGNC Investment to $12.50 and set a “na” rating for the company in a research note on Monday, May 16th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.00.

AGNC Investment Profile

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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).