Castlekeep Investment Advisors LLC Has $1.19 Million Stock Position in Ellington Financial Inc. (NYSE:EFC)

Castlekeep Investment Advisors LLC cut its stake in shares of Ellington Financial Inc. (NYSE:EFC) by 32.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,073 shares of the financial services provider’s stock after selling 43,017 shares during the period. Castlekeep Investment Advisors LLC owned approximately 0.10% of Ellington Financial worth $1,194,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Invesco Ltd. grew its stake in shares of Ellington Financial by 17.2% during the fourth quarter. Invesco Ltd. now owns 2,364,583 shares of the financial services provider’s stock worth $28,659,000 after purchasing an additional 347,587 shares during the period. Geode Capital Management LLC grew its stake in shares of Ellington Financial by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 2,008,827 shares of the financial services provider’s stock worth $24,353,000 after purchasing an additional 43,531 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ellington Financial by 4.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,470,054 shares of the financial services provider’s stock worth $17,817,000 after purchasing an additional 67,807 shares during the period. Northern Trust Corp grew its stake in shares of Ellington Financial by 39.8% during the fourth quarter. Northern Trust Corp now owns 1,092,902 shares of the financial services provider’s stock worth $13,246,000 after purchasing an additional 311,406 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Ellington Financial by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 821,024 shares of the financial services provider’s stock worth $9,951,000 after purchasing an additional 42,093 shares during the period. 55.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EFC shares. B. Riley lifted their price objective on Ellington Financial from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. UBS Group lifted their price objective on Ellington Financial from $12.00 to $12.50 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Piper Sandler reduced their target price on Ellington Financial from $15.00 to $14.50 and set an “overweight” rating on the stock in a report on Tuesday, July 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Ellington Financial currently has an average rating of “Moderate Buy” and a consensus target price of $14.30.

Ellington Financial Stock Performance

EFC stock opened at $13.23 on Monday. The business’s 50-day moving average price is $12.90 and its two-hundred day moving average price is $12.80. The company has a current ratio of 42.26, a quick ratio of 42.26 and a debt-to-equity ratio of 11.11. The firm has a market cap of $1.25 billion, a PE ratio of 9.38 and a beta of 0.98. Ellington Financial Inc. has a 1-year low of $11.12 and a 1-year high of $14.40.

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

Ellington Financial Announces Dividend

The company also recently declared a jul 25 dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, July 31st will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a dividend yield of 11.8%. Ellington Financial’s dividend payout ratio (DPR) is 110.64%.

About Ellington Financial

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.