Schwab Charles Investment Management Inc. Acquires 27,023 Shares of Western Asset Mortgage Capital Corp (WMC)

Schwab Charles Investment Management Inc. increased its holdings in Western Asset Mortgage Capital Corp (NYSE:WMC) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,531 shares of the financial services provider’s stock after buying an additional 27,023 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Western Asset Mortgage Capital were worth $3,995,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WMC. Prudential Financial Inc. boosted its position in shares of Western Asset Mortgage Capital by 127.7% in the 2nd quarter. Prudential Financial Inc. now owns 566,775 shares of the financial services provider’s stock worth $5,838,000 after buying an additional 317,900 shares in the last quarter. Timbercreek Asset Management Ltd. boosted its position in shares of Western Asset Mortgage Capital by 141.2% in the 2nd quarter. Timbercreek Asset Management Ltd. now owns 461,247 shares of the financial services provider’s stock worth $4,751,000 after buying an additional 270,027 shares in the last quarter. State Street Corp boosted its position in shares of Western Asset Mortgage Capital by 10.1% in the 2nd quarter. State Street Corp now owns 807,710 shares of the financial services provider’s stock worth $8,319,000 after buying an additional 74,407 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Western Asset Mortgage Capital by 36.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 258,797 shares of the financial services provider’s stock worth $2,665,000 after buying an additional 69,165 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in shares of Western Asset Mortgage Capital by 12.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 407,541 shares of the financial services provider’s stock worth $4,198,000 after buying an additional 45,920 shares in the last quarter. Institutional investors and hedge funds own 43.03% of the company’s stock.

In other news, insider Jennifer Murphy bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was purchased at an average price of $10.22 per share, with a total value of $102,200.00. Following the purchase, the insider now owns 47,500 shares of the company’s stock, valued at approximately $485,450. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.36% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 28th.

Shares of Western Asset Mortgage Capital Corp (NYSE:WMC) opened at $10.00 on Friday. Western Asset Mortgage Capital Corp has a 1 year low of $9.43 and a 1 year high of $10.95. The company has a quick ratio of 128.12, a current ratio of 128.12 and a debt-to-equity ratio of 7.34. The company has a market cap of $419.20, a PE ratio of 16.67 and a beta of 0.71.

Western Asset Mortgage Capital (NYSE:WMC) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Western Asset Mortgage Capital had a net margin of 18.57% and a return on equity of 1.81%. The firm had revenue of $18.57 million during the quarter, compared to analyst estimates of $17.10 million. During the same period in the previous year, the firm posted $0.35 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. analysts anticipate that Western Asset Mortgage Capital Corp will post 1.18 earnings per share for the current fiscal year.

Western Asset Mortgage Capital declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 21st that permits the company to repurchase 2,100,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Tuesday, January 2nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 12.40%. The ex-dividend date is Friday, December 29th. Western Asset Mortgage Capital’s payout ratio is 206.67%.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.themarketsdaily.com/2018/01/13/schwab-charles-investment-management-inc-acquires-27023-shares-of-western-asset-mortgage-capital-corp-wmc.html.

About Western Asset Mortgage Capital

Western Asset Mortgage Capital Corporation is a real estate investment trust. The Company is focused on investing in, financing and managing a diversified portfolio of real estate-related securities, whole-loans and other financial assets. The Company’s portfolio includes Agency residential mortgage-backed securities (RMBS), including Mortgage pass-through certificates, Agency derivatives, Agency Interest-Only Strips and Agency collateralized mortgage obligations (CMOs); Non-Agency RMBS, and Agency commercial mortgage-backed securities (CMBS), Non-Agency CMBS, Non United States CMBS and asset-backed securities (ABS), as well as Residential and Commercial Whole-Loans.

Want to see what other hedge funds are holding WMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Asset Mortgage Capital Corp (NYSE:WMC).

Institutional Ownership by Quarter for Western Asset Mortgage Capital (NYSE:WMC)

Receive News & Ratings for Western Asset Mortgage Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Asset Mortgage Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply