Nisa Investment Advisors LLC has reduced its stake in Ellington Financial Inc. (NYSE:EFC) by 11.8%, now holding shares valued at approximately $454,000. This adjustment is detailed in the firm’s most recent Form 13F filing with the Securities and Exchange Commission, revealing that Nisa currently owns 34,569 shares after divesting 4,610 shares during the second quarter.
In addition to Nisa, several other institutional investors have made modifications to their positions in Ellington Financial. Bank of New York Mellon Corp increased its stake by 4.5% in the first quarter, now owning 671,272 shares, valued at $8.9 million after acquiring an additional 29,188 shares. Similarly, Amundi has entered the fray with a new stake valued at $6.4 million.
Cambridge Investment Research Advisors Inc. also boosted its holdings by 32.3%, bringing its total to 28,238 shares, worth about $374,000. Northern Trust Corp followed suit with a 2.1% increase, now owning 1,115,881 shares valued at $14.8 million. Principal Financial Group Inc. also raised its investment by 2.7%, owning 451,287 shares worth approximately $5.98 million. Collectively, institutional investors and hedge funds currently hold 55.62% of Ellington Financial’s stock.
Insider Activity and Stock Performance
In related news, Director Ronald I. Simon purchased 5,544 shares on September 11, 2023, for an average price of $13.56 per share. This transaction totaled approximately $75,176.64, resulting in a 7.45% increase in his holdings to 80,000 shares, valued at around $1.08 million. This acquisition highlights ongoing insider confidence in the company’s prospects, with insiders collectively owning about 4.10% of the stock.
As of the latest trading session, shares of Ellington Financial opened at $13.32. The stock has a fifty-day moving average of $13.44 and a 200-day moving average of $13.15. With a market capitalization of $1.33 billion, the company has reported a price-to-earnings (P/E) ratio of 10.74 and a beta of 1.00. Ellington Financial’s stock has fluctuated between a 52-week low of $11.12 and a 52-week high of $14.40.
Recent Earnings and Dividend Announcement
Ellington Financial recently announced its earnings results for the second quarter on August 7, 2023. The company reported earnings per share (EPS) of $0.47, surpassing analysts’ expectations of $0.40 by $0.07. The financial services provider achieved a return on equity of 13.56% and a net margin of 89.52%, with revenue totaling $92.54 million, falling short of the anticipated $112.48 million.
Looking ahead, Ellington Financial has declared a dividend of $0.13 per share, scheduled for payment on November 28, 2023. Shareholders of record on October 31, 2023 will be eligible for this dividend, which marks an impressive yield of 1,172.0%. The company’s dividend payout ratio currently stands at 125.81%.
Ellington Financial Inc. operates through its subsidiary, Ellington Financial Operating Partnership LLC, focusing on acquiring and managing various financial assets, including residential mortgage-backed securities (RMBS) and related investments in the United States.
