Jump Financial LLC lifted its position in Ellington Financial Inc. (NYSE:EFC – Free Report) by 111.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,121 shares of the financial services provider’s stock after acquiring an additional 27,421 shares during the period. Jump Financial LLC’s holdings in Ellington Financial were worth $650,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Sigma Planning Corp raised its holdings in Ellington Financial by 200.7% during the 3rd quarter. Sigma Planning Corp now owns 65,483 shares of the financial services provider’s stock worth $817,000 after buying an additional 43,708 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in Ellington Financial during the 3rd quarter worth approximately $465,000. Principal Financial Group Inc. raised its holdings in Ellington Financial by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 366,172 shares of the financial services provider’s stock worth $4,566,000 after buying an additional 3,538 shares during the period. Nisa Investment Advisors LLC raised its holdings in Ellington Financial by 2.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 43,174 shares of the financial services provider’s stock worth $538,000 after buying an additional 996 shares during the period. Finally, Portside Wealth Group LLC raised its holdings in Ellington Financial by 8.3% during the 3rd quarter. Portside Wealth Group LLC now owns 10,903 shares of the financial services provider’s stock worth $137,000 after buying an additional 835 shares during the period. 50.18% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Ellington Financial
In related news, Director Lisa Mumford sold 21,180 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $13.06, for a total value of $276,610.80. Following the completion of the transaction, the director now directly owns 63,540 shares of the company’s stock, valued at $829,832.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by company insiders.
Ellington Financial Price Performance
Ellington Financial (NYSE:EFC – Get Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.09). Ellington Financial had a return on equity of 12.34% and a net margin of 84.21%. The business had revenue of $27.51 million for the quarter, compared to the consensus estimate of $31.41 million. As a group, equities research analysts forecast that Ellington Financial Inc. will post 1.58 EPS for the current fiscal year.
Ellington Financial Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Monday, February 26th. Investors of record on Wednesday, January 31st will be paid a $0.15 dividend. The ex-dividend date is Tuesday, January 30th. This is a boost from Ellington Financial’s previous monthly dividend of $0.09. This represents a $1.80 annualized dividend and a dividend yield of 15.01%. Ellington Financial’s dividend payout ratio (DPR) is currently 165.14%.
Analyst Ratings Changes
EFC has been the topic of several research analyst reports. B. Riley initiated coverage on shares of Ellington Financial in a report on Thursday, October 19th. They set a “buy” rating and a $15.00 target price on the stock. UBS Group began coverage on shares of Ellington Financial in a report on Wednesday, December 6th. They set a “neutral” rating and a $13.50 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.19.
Ellington Financial Company Profile
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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