Eagle Point Income Company Inc. $EIC Position Raised by Enstar Group LTD

Enstar Group LTD grew its holdings in shares of Eagle Point Income Company Inc. (NYSE:EIC) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,819,656 shares of the company’s stock after purchasing an additional 55,076 shares during the period. Eagle Point Income makes up approximately 19.2% of Enstar Group LTD’s holdings, making the stock its 2nd largest position. Enstar Group LTD’s holdings in Eagle Point Income were worth $52,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Eagle Point Income during the 2nd quarter valued at approximately $2,199,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Eagle Point Income in the second quarter worth $325,000. Cetera Investment Advisers bought a new position in shares of Eagle Point Income during the first quarter valued at $182,000. Ballentine Partners LLC raised its position in shares of Eagle Point Income by 96.6% in the 2nd quarter. Ballentine Partners LLC now owns 24,650 shares of the company’s stock worth $337,000 after purchasing an additional 12,111 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in Eagle Point Income in the 1st quarter worth about $170,000.

Eagle Point Income Stock Performance

EIC opened at $10.98 on Friday. The company’s 50-day simple moving average is $12.00 and its two-hundred day simple moving average is $12.85. Eagle Point Income Company Inc. has a 52-week low of $10.81 and a 52-week high of $16.39.

Eagle Point Income (NYSE:EIC) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03.

Eagle Point Income Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, March 11th. This represents a c) dividend on an annualized basis and a yield of 12.0%.

Wall Street Analysts Forecast Growth

EIC has been the subject of a number of analyst reports. Zacks Research lowered shares of Eagle Point Income from a “hold” rating to a “strong sell” rating in a research note on Monday, November 24th. B. Riley reduced their price target on shares of Eagle Point Income from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Eagle Point Income Profile

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.