Principal Financial Group Inc. Increases Holdings in Ellington Financial Inc. (NYSE:EFC)

Principal Financial Group Inc. boosted its position in shares of Ellington Financial Inc. (NYSE:EFCFree Report) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 366,172 shares of the financial services provider’s stock after purchasing an additional 3,538 shares during the quarter. Principal Financial Group Inc. owned about 0.54% of Ellington Financial worth $4,566,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Ellington Financial by 8.6% in the 1st quarter. BlackRock Inc. now owns 11,559,525 shares of the financial services provider’s stock valued at $141,142,000 after buying an additional 918,081 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ellington Financial by 132.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,544,159 shares of the financial services provider’s stock valued at $21,309,000 after buying an additional 878,677 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Ellington Financial in the 1st quarter valued at about $4,465,000. Renaissance Technologies LLC acquired a new position in shares of Ellington Financial in the 1st quarter valued at about $4,913,000. Finally, First Trust Advisors LP lifted its holdings in shares of Ellington Financial by 290.0% in the 1st quarter. First Trust Advisors LP now owns 364,802 shares of the financial services provider’s stock valued at $6,475,000 after buying an additional 271,270 shares during the period. 50.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EFC has been the subject of several research reports. B. Riley started coverage on Ellington Financial in a research note on Thursday, October 19th. They set a “buy” rating and a $15.00 price objective for the company. UBS Group started coverage on Ellington Financial in a report on Wednesday, December 6th. They set a “neutral” rating and a $13.50 target price on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.19.

Get Our Latest Analysis on Ellington Financial

Insiders Place Their Bets

In other news, Director Lisa Mumford sold 21,180 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $13.06, for a total transaction of $276,610.80. Following the sale, the director now owns 63,540 shares of the company’s stock, valued at $829,832.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is owned by insiders.

Ellington Financial Trading Up 1.1 %

EFC opened at $12.32 on Wednesday. Ellington Financial Inc. has a one year low of $10.81 and a one year high of $14.21. The stock has a market capitalization of $838.01 million, a PE ratio of 11.30 and a beta of 1.96. The business’s 50 day moving average price is $12.75 and its 200 day moving average price is $12.85. The company has a debt-to-equity ratio of 12.48, a quick ratio of 39.81 and a current ratio of 39.81.

Ellington Financial (NYSE:EFCGet Free Report) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). Ellington Financial had a return on equity of 12.34% and a net margin of 84.21%. The firm had revenue of $27.51 million for the quarter, compared to analyst estimates of $31.41 million. As a group, equities research analysts expect that Ellington Financial Inc. will post 1.58 EPS for the current year.

Ellington Financial Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, February 26th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a yield of 14.61%. This is a boost from Ellington Financial’s previous monthly dividend of $0.09. The ex-dividend date is Tuesday, January 30th. Ellington Financial’s dividend payout ratio is 165.14%.

About Ellington Financial

(Free Report)

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.

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

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