HBK Sorce Advisory LLC Takes $210,000 Position in Ellington Financial Inc. (NYSE:EFC)

HBK Sorce Advisory LLC purchased a new stake in shares of Ellington Financial Inc. (NYSE:EFC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,815 shares of the financial services provider’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Delphi Financial Group Inc. bought a new position in shares of Ellington Financial during the fourth quarter valued at $4,704,000. Charles Schwab Investment Management Inc. grew its stake in shares of Ellington Financial by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 821,024 shares of the financial services provider’s stock valued at $9,951,000 after purchasing an additional 42,093 shares during the period. Deutsche Bank AG increased its position in shares of Ellington Financial by 54.5% during the 4th quarter. Deutsche Bank AG now owns 68,195 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 24,046 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Ellington Financial in the 4th quarter worth approximately $264,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ellington Financial by 15.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 156,250 shares of the financial services provider’s stock worth $1,894,000 after purchasing an additional 21,324 shares during the period. 55.62% of the stock is owned by institutional investors.

Ellington Financial Trading Down 1.0%

Shares of NYSE:EFC opened at $13.01 on Friday. The stock has a 50 day moving average of $12.84 and a 200 day moving average of $12.73. The company has a market cap of $1.23 billion, a PE ratio of 9.22 and a beta of 0.99. Ellington Financial Inc. has a 12-month low of $11.12 and a 12-month high of $14.40. The company has a current ratio of 42.26, a quick ratio of 42.26 and a debt-to-equity ratio of 11.11.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Ellington Financial had a net margin of 101.59% and a return on equity of 12.06%. The business had revenue of $82.91 million for the quarter, compared to the consensus estimate of $107.06 million. As a group, equities research analysts expect that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a yield of 12.00%. The ex-dividend date is Monday, June 30th. Ellington Financial’s dividend payout ratio is currently 110.64%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. B. Riley upped their target price on shares of Ellington Financial from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Keefe, Bruyette & Woods boosted 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, March 3rd. Finally, UBS Group reaffirmed a “neutral” rating on shares of Ellington Financial in a report on Wednesday, May 14th.

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.