Zacks Investment Research upgraded shares of Ellington Financial (NYSE:EFC) from a strong sell rating to a hold rating in a report published on Tuesday.
According to Zacks, “Ellington Financial LLC is a finance company that engages in acquiring and managing mortgage-related assets, including residential mortgage backed securities, prime jumbo, Alternative A-paper and subprime residential mortgage loans. The Company’s targeted assets also include mortgage-related derivatives, corporate debt and equity securities and derivatives. Ellington Financial LLC is headquartered in Old Greenwich, USA. “
A number of other brokerages also recently issued reports on EFC. Maxim Group restated a buy rating and issued a $20.00 price target on shares of Ellington Financial in a research report on Monday, October 9th. Keefe, Bruyette & Woods set a $17.00 price target on Ellington Financial and gave the stock a hold rating in a research report on Monday, November 13th. B. Riley restated a buy rating and issued a $16.00 price target (down from $17.50) on shares of Ellington Financial in a research report on Wednesday, November 1st. Sandler O’Neill initiated coverage on Ellington Financial in a research report on Wednesday, December 6th. They issued a buy rating and a $17.00 price target for the company. Finally, ValuEngine upgraded Ellington Financial from a hold rating to a buy rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Ellington Financial presently has an average rating of Buy and a consensus price target of $17.25.
Shares of Ellington Financial (NYSE EFC) traded up $0.12 on Tuesday, reaching $15.01. The company had a trading volume of 116,349 shares, compared to its average volume of 150,682. The company has a market capitalization of $478.91, a P/E ratio of 17.06 and a beta of 0.41. Ellington Financial has a 12 month low of $14.45 and a 12 month high of $17.00. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.90 and a current ratio of 3.90.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.64 annualized dividend and a dividend yield of 10.93%. Ellington Financial’s dividend payout ratio (DPR) is 186.36%.
Large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new stake in shares of Ellington Financial during the second quarter worth $1,003,000. Virtu KCG Holdings LLC increased its stake in shares of Ellington Financial by 254.7% during the second quarter. Virtu KCG Holdings LLC now owns 44,243 shares of the financial services provider’s stock valued at $717,000 after buying an additional 31,768 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of Ellington Financial during the second quarter valued at $405,000. FMR LLC increased its stake in shares of Ellington Financial by 24.0% during the second quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock valued at $24,680,000 after buying an additional 294,734 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Ellington Financial during the second quarter valued at $1,245,000. Institutional investors and hedge funds own 45.70% of the company’s stock.
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About Ellington Financial
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