Corebridge Financial Inc. Trims Stake in Chimera Investment Co. (NYSE:CIM)

Corebridge Financial Inc. reduced its stake in Chimera Investment Co. (NYSE:CIM) by 7.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 40,046 shares of the real estate investment trust’s stock after selling 3,024 shares during the period. Corebridge Financial Inc.’s holdings in Chimera Investment were worth $561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new position in shares of Chimera Investment in the 4th quarter valued at approximately $65,000. Investment Partners Asset Management Inc. purchased a new position in Chimera Investment during the fourth quarter valued at $183,000. Virtu Financial LLC bought a new stake in shares of Chimera Investment during the 3rd quarter valued at $186,000. BostonPremier Wealth LLC purchased a new stake in shares of Chimera Investment in the 4th quarter worth about $204,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Chimera Investment in the 4th quarter worth about $249,000. 48.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CIM. Royal Bank of Canada upgraded shares of Chimera Investment to a “moderate buy” rating in a report on Friday, March 14th. JMP Securities reaffirmed a “market perform” rating on shares of Chimera Investment in a research report on Thursday, January 23rd. Finally, StockNews.com cut Chimera Investment from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th.

Chimera Investment Trading Down 7.1 %

Shares of NYSE CIM opened at $10.91 on Tuesday. The firm’s 50 day moving average price is $13.82 and its 200-day moving average price is $14.53. Chimera Investment Co. has a 52-week low of $10.78 and a 52-week high of $16.89. The company has a debt-to-equity ratio of 2.82, a quick ratio of 3.03 and a current ratio of 0.06. The company has a market cap of $882.79 million, a PE ratio of 10.10 and a beta of 1.47.

Chimera Investment (NYSE:CIM) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.10). Chimera Investment had a net margin of 20.28% and a return on equity of 7.00%. On average, equities research analysts expect that Chimera Investment Co. will post 1.57 EPS for the current fiscal year.

Chimera Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 13.57%. The ex-dividend date is Monday, March 31st. Chimera Investment’s dividend payout ratio (DPR) is 137.04%.

Insider Buying and Selling at Chimera Investment

In related news, Director Gerard Creagh acquired 12,500 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $13.31 per share, with a total value of $166,375.00. Following the completion of the acquisition, the director now directly owns 138,127 shares of the company’s stock, valued at approximately $1,838,470.37. This trade represents a 9.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.91% of the company’s stock.

Chimera Investment Company Profile

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.