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. “
Several other equities research analysts have also commented on the company. Maxim Group restated a buy rating and set a $19.50 target price on shares of Ellington Financial in a research report on Thursday, April 11th. B. Riley lowered Ellington Financial from a buy rating to a neutral rating in a research report on Friday, February 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Ellington Financial presently has a consensus rating of Hold and a consensus price target of $18.50.
Ellington Financial (NYSE:EFC) last announced its earnings results on Wednesday, February 20th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. Ellington Financial had a return on equity of 7.62% and a net margin of 34.56%. The company had revenue of $36.85 million for the quarter, compared to analyst estimates of $34.11 million. Equities research analysts expect that Ellington Financial will post 1.55 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a yield of 9.22%. The ex-dividend date of this dividend is Monday, April 29th. Ellington Financial’s dividend payout ratio (DPR) is currently 39.72%.
A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Ellington Financial by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 13,236 shares of the financial services provider’s stock worth $202,000 after buying an additional 1,310 shares during the period. Advisor Group Inc. raised its stake in Ellington Financial by 114.6% during the 4th quarter. Advisor Group Inc. now owns 3,980 shares of the financial services provider’s stock worth $60,000 after buying an additional 2,125 shares during the period. Acadian Asset Management LLC acquired a new position in Ellington Financial during the 4th quarter worth approximately $82,000. Morgan Stanley raised its stake in Ellington Financial by 0.6% during the 3rd quarter. Morgan Stanley now owns 1,116,239 shares of the financial services provider’s stock worth $17,872,000 after buying an additional 6,282 shares during the period. Finally, Essex Savings Bank acquired a new position in Ellington Financial during the 4th quarter worth approximately $100,000. 49.68% of the stock is currently owned by institutional investors and hedge funds.
Ellington Financial Company Profile
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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