PFG Investments LLC Makes New $141,000 Investment in Ellington Financial Inc. (NYSE:EFC)

PFG Investments LLC bought a new stake in Ellington Financial Inc. (NYSE:EFC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,654 shares of the financial services provider’s stock, valued at approximately $141,000.

A number of other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in shares of Ellington Financial by 35.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 992 shares during the period. Optimum Investment Advisors boosted its stake in shares of Ellington Financial by 7.8% in the first quarter. Optimum Investment Advisors now owns 13,900 shares of the financial services provider’s stock valued at $164,000 after buying an additional 1,000 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Ellington Financial by 3.6% in the second quarter. Maryland State Retirement & Pension System now owns 29,651 shares of the financial services provider’s stock valued at $358,000 after buying an additional 1,043 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Ellington Financial by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,246 shares of the financial services provider’s stock valued at $180,000 after buying an additional 1,057 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in shares of Ellington Financial by 2.3% in the first quarter. Texas Permanent School Fund Corp now owns 68,987 shares of the financial services provider’s stock valued at $815,000 after buying an additional 1,548 shares in the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities decreased their price target on Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.85.

Insider Activity

In other news, CIO Michael W. Vranos sold 5,900 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $12.12, for a total value of $71,508.00. Following the sale, the executive now directly owns 179,655 shares in the company, valued at $2,177,418.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CIO Michael W. Vranos sold 8,300 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $12.15, for a total value of $100,845.00. Following the completion of the transaction, the executive now directly owns 160,874 shares in the company, valued at $1,954,619.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CIO Michael W. Vranos sold 5,900 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total value of $71,508.00. Following the completion of the transaction, the executive now owns 179,655 shares of the company’s stock, valued at $2,177,418.60. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Ellington Financial Stock Up 0.5 %

EFC opened at $13.30 on Friday. The business’s fifty day moving average is $12.93 and its two-hundred day moving average is $12.14. The company has a debt-to-equity ratio of 10.84, a quick ratio of 73.16 and a current ratio of 73.16. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 20.78 and a beta of 1.98. Ellington Financial Inc. has a one year low of $10.88 and a one year high of $13.50.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Ellington Financial had a net margin of 103.55% and a return on equity of 9.76%. The company had revenue of $33.60 million during the quarter, compared to analysts’ expectations of $37.20 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. Analysts anticipate that Ellington Financial Inc. will post 1.37 EPS for the current fiscal year.

Ellington Financial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a $0.13 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.56 annualized dividend and a dividend yield of 11.73%. Ellington Financial’s dividend payout ratio is currently 243.75%.

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.