Blue Trust Inc. Takes Position in Ellington Financial Inc. (NYSE:EFC)

Blue Trust Inc. bought a new stake in shares of Ellington Financial Inc. (NYSE:EFC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,100 shares of the financial services provider’s stock, valued at approximately $135,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Creative Planning purchased a new stake in Ellington Financial in the 3rd quarter worth $141,000. Harbor Capital Advisors Inc. grew its holdings in Ellington Financial by 146.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 726,779 shares of the financial services provider’s stock valued at $9,368,000 after buying an additional 431,945 shares in the last quarter. Portside Wealth Group LLC grew its holdings in Ellington Financial by 13.3% during the 3rd quarter. Portside Wealth Group LLC now owns 14,415 shares of the financial services provider’s stock valued at $186,000 after buying an additional 1,688 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Ellington Financial during the 3rd quarter valued at approximately $68,000. Finally, Intech Investment Management LLC purchased a new position in shares of Ellington Financial in the third quarter valued at $695,000. Hedge funds and other institutional investors own 55.62% of the company’s stock.

Ellington Financial Price Performance

Shares of EFC stock opened at $13.09 on Friday. The stock has a fifty day simple moving average of $12.47 and a two-hundred day simple moving average of $12.60. Ellington Financial Inc. has a twelve month low of $10.88 and a twelve month high of $13.46. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.99 and a beta of 1.97. The company has a current ratio of 37.04, a quick ratio of 37.04 and a debt-to-equity ratio of 10.87.

Ellington Financial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a dividend yield of 11.92%. The ex-dividend date of this dividend is Friday, February 28th. Ellington Financial’s payout ratio is 119.08%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $14.00 price target on shares of Ellington Financial in a research report on Thursday, January 23rd. B. Riley upgraded Ellington Financial to a “strong-buy” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.58.

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