Principal Financial Group Inc. Grows Stock Position in Ellington Financial Inc. (NYSE:EFC)

Principal Financial Group Inc. raised its holdings in shares of Ellington Financial Inc. (NYSE:EFC) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 439,312 shares of the financial services provider’s stock after acquiring an additional 29,837 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of Ellington Financial worth $5,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EFC. McIlrath & Eck LLC bought a new position in shares of Ellington Financial in the third quarter worth $62,000. Prospera Private Wealth LLC bought a new position in shares of Ellington Financial in the third quarter valued at $68,000. Atom Investors LP acquired a new position in shares of Ellington Financial in the 3rd quarter valued at $130,000. Blue Trust Inc. purchased a new stake in shares of Ellington Financial in the 4th quarter valued at approximately $135,000. Finally, CenterStar Asset Management LLC acquired a new position in Ellington Financial in the 4th quarter worth approximately $136,000. 55.62% of the stock is currently owned by hedge funds and other institutional investors.

Ellington Financial Trading Down 3.4 %

NYSE:EFC opened at $13.86 on Tuesday. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. The company’s 50 day moving average is $12.60 and its 200-day moving average is $12.63. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 10.58 and a beta of 1.97. Ellington Financial Inc. has a 12 month low of $10.88 and a 12 month high of $14.40.

Ellington Financial (NYSE:EFC) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.38 by $0.07. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The firm had revenue of $38.13 million during the quarter, compared to analysts’ expectations of $112.88 million. Equities analysts anticipate that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a dividend yield of 11.26%. The ex-dividend date of this dividend is Friday, February 28th. Ellington Financial’s payout ratio is presently 113.04%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EFC shares. B. Riley upgraded Ellington Financial to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective on shares of Ellington Financial from $13.75 to $14.50 and gave the company an “outperform” rating in a research report on Monday. Finally, JMP Securities reissued a “market outperform” rating and issued a $14.00 target price on shares of Ellington Financial in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ellington Financial currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

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.