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

PFG Investments LLC purchased a new position in shares of Ellington Financial Inc. (NYSE:EFC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,654 shares of the financial services provider’s stock, valued at approximately $141,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Ellington Financial by 1.0% during the first quarter. Vanguard Group Inc. now owns 4,879,336 shares of the financial services provider’s stock worth $57,625,000 after acquiring an additional 45,979 shares during the last quarter. Easterly Investment Partners LLC purchased a new stake in shares of Ellington Financial in the first quarter worth about $23,326,000. UBS Group AG boosted its position in shares of Ellington Financial by 509.5% in the fourth quarter. UBS Group AG now owns 774,816 shares of the financial services provider’s stock worth $9,848,000 after buying an additional 647,700 shares during the period. Van ECK Associates Corp boosted its position in shares of Ellington Financial by 32.3% in the second quarter. Van ECK Associates Corp now owns 751,997 shares of the financial services provider’s stock worth $9,084,000 after buying an additional 183,544 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Ellington Financial by 20.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 658,398 shares of the financial services provider’s stock worth $8,368,000 after buying an additional 111,314 shares during the period. 55.62% of the stock is currently owned by institutional investors and hedge funds.

Ellington Financial Trading Up 0.5 %

Shares of EFC opened at $13.30 on Friday. The company has a market capitalization of $1.16 billion, a P/E 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. 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 stock has a 50-day moving average price of $12.93 and a 200 day moving average price of $12.14.

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

Ellington Financial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a yield of 11.73%. The ex-dividend date is Monday, September 30th. Ellington Financial’s dividend payout ratio is presently 243.75%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Ellington Financial news, CIO Michael W. Vranos sold 8,300 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $12.15, for a total transaction of $100,845.00. Following the transaction, the executive now owns 160,874 shares of the company’s stock, valued at approximately $1,954,619.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CIO Michael W. Vranos sold 8,300 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $12.15, for a total transaction of $100,845.00. Following the sale, the executive now directly owns 160,874 shares in the company, valued at approximately $1,954,619.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Michael W. Vranos sold 5,900 shares of the stock in a transaction that occurred 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 owns 179,655 shares in the company, valued at $2,177,418.60. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.

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.