Geode Capital Management LLC Buys 1,310 Shares of Ellington Financial Inc (EFC)

Geode Capital Management LLC increased its stake in shares of Ellington Financial Inc (NYSE:EFC) by 11.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,236 shares of the financial services provider’s stock after acquiring an additional 1,310 shares during the period. Geode Capital Management LLC’s holdings in Ellington Financial were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BBR Partners LLC grew its stake in Ellington Financial by 29.1% during the 4th quarter. BBR Partners LLC now owns 1,560,501 shares of the financial services provider’s stock worth $23,922,000 after buying an additional 351,744 shares during the last quarter. Morgan Stanley grew its stake in shares of Ellington Financial by 0.6% in the third quarter. Morgan Stanley now owns 1,116,239 shares of the financial services provider’s stock worth $17,872,000 after purchasing an additional 6,282 shares in the last quarter. Citigroup Inc. grew its stake in shares of Ellington Financial by 10.4% in the fourth quarter. Citigroup Inc. now owns 881,829 shares of the financial services provider’s stock worth $13,519,000 after purchasing an additional 83,124 shares in the last quarter. California Public Employees Retirement System bought a new position in shares of Ellington Financial in the fourth quarter worth $361,000. Finally, Essex Savings Bank bought a new position in shares of Ellington Financial in the fourth quarter worth $100,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

NYSE:EFC opened at $18.09 on Thursday. Ellington Financial Inc has a 1 year low of $14.69 and a 1 year high of $18.46. The firm has a market capitalization of $536.99 million, a PE ratio of 12.83 and a beta of 0.45. The company has a quick ratio of 1.77, a current ratio of 42.75 and a debt-to-equity ratio of 0.20.

Ellington Financial (NYSE:EFC) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. Ellington Financial had a return on equity of 8.19% and a net margin of 28.85%. The company had revenue of $36.02 million during the quarter, compared to analysts’ expectations of $37.71 million. As a group, sell-side analysts predict that Ellington Financial Inc will post 1.66 earnings per share for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Friday, May 31st will be issued a $0.14 dividend. The ex-dividend date is Thursday, May 30th. This represents a $1.68 annualized dividend and a dividend yield of 9.29%. Ellington Financial’s dividend payout ratio (DPR) is 39.72%.

Several research analysts have recently issued reports on EFC shares. Maxim Group reissued a “buy” rating and issued a $19.50 price target on shares of Ellington Financial in a research note on Thursday, April 11th. B. Riley raised Ellington Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.00 to $18.00 in a research note on Thursday, February 14th. Finally, Zacks Investment Research raised Ellington Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Ellington Financial currently has an average rating of “Hold” and an average price target of $18.50.

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About Ellington Financial

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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Institutional Ownership by Quarter for Ellington Financial (NYSE:EFC)

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