Chicago Partners Investment Group LLC Makes New $233,000 Investment in Ellington Financial Inc. (NYSE:EFC)

Chicago Partners Investment Group LLC acquired a new position in shares of Ellington Financial Inc. (NYSE:EFCGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,499 shares of the financial services provider’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Ellington Financial by 126.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 759 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Ellington Financial by 8.6% during the first quarter. Teacher Retirement System of Texas now owns 11,247 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 895 shares during the last quarter. Optimum Investment Advisors grew its position in shares of Ellington Financial by 10.1% during the fourth quarter. Optimum Investment Advisors now owns 13,115 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 1,200 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Ellington Financial by 6.5% during the first quarter. Envestnet Asset Management Inc. now owns 25,122 shares of the financial services provider’s stock worth $446,000 after acquiring an additional 1,528 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Ellington Financial by 12.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 20,644 shares of the financial services provider’s stock worth $366,000 after acquiring an additional 2,311 shares during the last quarter. Institutional investors and hedge funds own 54.41% of the company’s stock.

Analyst Upgrades and Downgrades

EFC has been the topic of a number of research reports. Credit Suisse Group lowered their target price on shares of Ellington Financial to $17.00 in a research report on Friday, July 22nd. Keefe, Bruyette & Woods lowered shares of Ellington Financial from an “outperform” rating to a “market perform” rating and set a $14.75 price objective on the stock. in a research report on Monday, July 18th. Piper Sandler lowered their price objective on shares of Ellington Financial from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, June 24th. Finally, JMP Securities lowered their price objective on shares of Ellington Financial from $17.50 to $16.50 and set a “market outperform” rating on the stock in a research report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.65.

Ellington Financial Price Performance

Ellington Financial stock opened at $14.23 on Friday. Ellington Financial Inc. has a one year low of $12.74 and a one year high of $18.95. The company has a debt-to-equity ratio of 4.62, a quick ratio of 25.88 and a current ratio of 25.88. The business has a fifty day moving average of $15.29 and a two-hundred day moving average of $15.86. The company has a market cap of $854.45 million, a P/E ratio of -61.87 and a beta of 1.78.

Ellington Financial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 12.65%. The ex-dividend date of this dividend is Thursday, September 29th. Ellington Financial’s dividend payout ratio (DPR) is currently -782.61%.

Ellington Financial Company Profile

(Get Rating)

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 residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

See Also

Want to see what other hedge funds are holding EFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellington Financial Inc. (NYSE:EFCGet Rating).

Institutional Ownership by Quarter for Ellington Financial (NYSE:EFC)

Receive News & Ratings for Ellington Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Financial and related companies with MarketBeat.com's FREE daily email newsletter.