Cadence Capital Management LLC bought a new stake in AGNC Investment Corp. (NASDAQ:AGNC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,764 shares of the real estate investment trust’s stock, valued at approximately $167,000.
Several other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in AGNC Investment in the 4th quarter valued at $114,413,000. Renaissance Technologies LLC acquired a new stake in AGNC Investment during the fourth quarter worth approximately $58,471,000. Artemis Investment Management LLP acquired a new stake in AGNC Investment during the first quarter worth approximately $30,598,000. Capital World Investors grew its stake in AGNC Investment by 8.8% in the fourth quarter. Capital World Investors now owns 22,413,759 shares of the real estate investment trust’s stock valued at $396,275,000 after acquiring an additional 1,805,512 shares during the period. Finally, Bank of Montreal Can grew its stake in AGNC Investment by 239.4% in the fourth quarter. Bank of Montreal Can now owns 1,704,934 shares of the real estate investment trust’s stock valued at $30,144,000 after acquiring an additional 1,202,536 shares during the period. Institutional investors own 67.37% of the company’s stock.
AGNC has been the topic of several research reports. UBS Group lowered their target price on AGNC Investment from $18.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Nomura Securities upgraded AGNC Investment from a “neutral” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Monday, March 16th. Credit Suisse Group upped their price objective on AGNC Investment from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Nomura reissued a “buy” rating and issued a $16.00 target price on shares of AGNC Investment in a research note on Thursday, April 30th. Finally, Bank of America raised AGNC Investment from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $15.44.
AGNC Investment (NASDAQ:AGNC) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The business had revenue of $65.00 million for the quarter, compared to analysts’ expectations of $351.30 million. AGNC Investment had a positive return on equity of 12.94% and a negative net margin of 171.65%. During the same period last year, the firm earned $0.52 earnings per share. Analysts predict that AGNC Investment Corp. will post 1.9 EPS for the current year.
The firm also recently declared a apr 20 dividend, which was paid on Monday, May 11th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, April 29th. This represents a yield of 11.8%. AGNC Investment’s dividend payout ratio is presently 66.67%.
In other AGNC Investment news, Director John D. Fisk purchased 15,628 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were acquired at an average cost of $12.77 per share, with a total value of $199,569.56. Following the completion of the acquisition, the director now directly owns 25,741 shares in the company, valued at $328,712.57. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary D. Kain purchased 189,188 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were acquired at an average cost of $12.60 per share, for a total transaction of $2,383,768.80. The disclosure for this purchase can be found here. 0.32% of the stock is owned by company insiders.
AGNC Investment Company Profile
AGNC Investment Corp., formerly American Capital Agency Corp., is a real estate investment trust. The Company invests in agency residential mortgage-backed securities on a leveraged basis. Its investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).
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