Geode Capital Management LLC Buys 46,530 Shares of Ellington Financial Inc. (NYSE:EFC)

Geode Capital Management LLC raised its stake in Ellington Financial Inc. (NYSE:EFC) by 2.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,965,296 shares of the financial services provider’s stock after acquiring an additional 46,530 shares during the period. Geode Capital Management LLC’s holdings in Ellington Financial were worth $25,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EFC. Harbor Capital Advisors Inc. raised its stake in Ellington Financial by 146.5% during the third quarter. Harbor Capital Advisors Inc. now owns 726,779 shares of the financial services provider’s stock worth $9,368,000 after buying an additional 431,945 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in Ellington Financial by 1,667.2% during the second quarter. Strategic Financial Concepts LLC now owns 282,746 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 266,746 shares during the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in Ellington Financial during the 2nd quarter worth about $2,968,000. Van ECK Associates Corp raised its position in shares of Ellington Financial by 32.3% in the 2nd quarter. Van ECK Associates Corp now owns 751,997 shares of the financial services provider’s stock worth $9,084,000 after acquiring an additional 183,544 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Ellington Financial by 4.1% in the 3rd quarter. State Street Corp now owns 3,140,371 shares of the financial services provider’s stock valued at $40,885,000 after purchasing an additional 124,943 shares during the period. Institutional investors and hedge funds own 55.62% of the company’s stock.

Ellington Financial Stock Down 0.5 %

Shares of Ellington Financial stock opened at $12.18 on Friday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 9.30 and a beta of 1.97. Ellington Financial Inc. has a one year low of $10.88 and a one year high of $13.46. The stock’s 50-day moving average is $12.32 and its 200 day moving average is $12.58. The company has a debt-to-equity ratio of 10.87, a current ratio of 37.04 and a quick ratio of 37.04.

Ellington Financial (NYSE:EFC) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $33.63 million during the quarter, compared to the consensus estimate of $37.95 million. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. During the same period last year, the business posted $0.33 EPS. Equities research analysts anticipate that Ellington Financial Inc. will post 1.37 EPS for the current year.

Ellington Financial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, January 27th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.56 annualized dividend and a yield of 12.81%. Ellington Financial’s payout ratio is 119.08%.

Insider Buying and Selling at Ellington Financial

In other news, CIO Michael W. Vranos sold 14,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $12.48, for a total transaction of $174,720.00. Following the completion of the sale, the executive now directly owns 168,359 shares of the company’s stock, valued at $2,101,120.32. The trade was a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.40% of the company’s stock.

Ellington Financial Profile

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.