First Republic Investment Management Inc. acquired a new position in shares of AGNC Investment Corp. (NASDAQ:AGNC) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 110,747 shares of the real estate investment trust’s stock, valued at approximately $2,058,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James & Associates lifted its holdings in shares of AGNC Investment by 3.7% during the second quarter. Raymond James & Associates now owns 142,787 shares of the real estate investment trust’s stock valued at $2,654,000 after purchasing an additional 5,071 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of AGNC Investment by 12.1% during the second quarter. Van ECK Associates Corp now owns 646,451 shares of the real estate investment trust’s stock valued at $12,018,000 after purchasing an additional 69,900 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of AGNC Investment during the second quarter valued at $1,677,000. Renaissance Technologies LLC purchased a new stake in shares of AGNC Investment during the second quarter valued at $6,128,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of AGNC Investment by 89.1% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 19,530 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 9,200 shares during the last quarter. Hedge funds and other institutional investors own 57.71% of the company’s stock.
Several brokerages have recently commented on AGNC. BidaskClub downgraded AGNC Investment from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 19th. JPMorgan Chase & Co. upped their target price on AGNC Investment from $18.00 to $18.50 and gave the company a “$19.11” rating in a report on Monday, July 23rd. ValuEngine downgraded AGNC Investment from a “hold” rating to a “sell” rating in a report on Friday, June 1st. Maxim Group upped their target price on AGNC Investment from $19.25 to $19.75 and gave the company a “buy” rating in a report on Friday, July 27th. Finally, Barclays reaffirmed a “hold” rating and set a $19.00 target price on shares of AGNC Investment in a report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $19.46.
Shares of AGNC Investment stock opened at $18.88 on Tuesday. The stock has a market capitalization of $9.03 billion, a P/E ratio of 7.74 and a beta of 0.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.29 and a quick ratio of 0.29. AGNC Investment Corp. has a 1 year low of $17.84 and a 1 year high of $21.94.
AGNC Investment (NASDAQ:AGNC) last announced its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $177.00 million during the quarter, compared to the consensus estimate of $274.15 million. AGNC Investment had a return on equity of 11.69% and a net margin of 134.01%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. research analysts forecast that AGNC Investment Corp. will post 2.44 earnings per share for the current year.
The firm also recently disclosed a sep 18 dividend, which will be paid on Tuesday, October 9th. Investors of record on Friday, September 28th will be paid a $0.18 dividend. This represents a yield of 11.44%. The ex-dividend date is Thursday, September 27th. AGNC Investment’s dividend payout ratio is currently 87.80%.
In related news, Director Morris A. Davis sold 6,797 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $19.12, for a total value of $129,958.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.
AGNC Investment 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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