Mutual of America Capital Management LLC Trims Holdings in Ellington Financial Inc. (NYSE:EFC)

Mutual of America Capital Management LLC cut its stake in Ellington Financial Inc. (NYSE:EFC) by 41.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 246,604 shares of the financial services provider’s stock after selling 173,585 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ellington Financial were worth $2,912,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in Ellington Financial during the first quarter worth about $27,000. Tower Research Capital LLC TRC grew its position in Ellington Financial by 100.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,835 shares of the financial services provider’s stock worth $36,000 after buying an additional 1,424 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Ellington Financial by 35.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock worth $48,000 after buying an additional 992 shares in the last quarter. Private Trust Co. NA grew its position in Ellington Financial by 42.8% during the fourth quarter. Private Trust Co. NA now owns 4,334 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,299 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Ellington Financial during the fourth quarter worth about $102,000. 55.62% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ellington Financial news, CIO Michael W. Vranos sold 8,300 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $12.15, for a total value of $100,845.00. Following the completion of the sale, the executive now owns 160,874 shares in the company, valued at approximately $1,954,619.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Ellington Financial news, CIO Michael W. Vranos sold 5,900 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.12, for a total value of $71,508.00. Following the completion of the sale, the executive now owns 179,655 shares in the company, valued at approximately $2,177,418.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CIO Michael W. Vranos sold 8,300 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $12.15, for a total value of $100,845.00. Following the completion of the sale, the executive now owns 160,874 shares of the company’s stock, valued at approximately $1,954,619.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,500 shares of company stock worth $272,866. 4.40% of the stock is currently owned by company insiders.

Ellington Financial Trading Up 0.8 %

Shares of EFC stock opened at $12.98 on Friday. The stock has a market capitalization of $1.10 billion, a PE ratio of 20.27 and a beta of 1.97. Ellington Financial Inc. has a 1-year low of $10.88 and a 1-year high of $14.21. The business has a 50-day moving average of $12.09 and a 200 day moving average of $11.97. The company has a debt-to-equity ratio of 10.99, a current ratio of 46.79 and a quick ratio of 46.79.

Ellington Financial (NYSE:EFC) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.07). The company had revenue of $31.06 million for the quarter, compared to analysts’ expectations of $26.68 million. Ellington Financial had a net margin of 66.65% and a return on equity of 10.51%. As a group, sell-side analysts anticipate that Ellington Financial Inc. will post 1.46 earnings per share for the current year.

Ellington Financial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 26th. Shareholders of record on Wednesday, July 31st will be issued a $0.13 dividend. This represents a $1.56 annualized dividend and a yield of 12.02%. The ex-dividend date of this dividend is Wednesday, July 31st. Ellington Financial’s dividend payout ratio (DPR) is currently 243.75%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JMP Securities restated a “market outperform” rating and set a $14.50 target price on shares of Ellington Financial in a research report on Thursday, April 18th. StockNews.com upgraded Ellington Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Jonestrading assumed coverage on Ellington Financial in a report on Friday, April 19th. They issued a “hold” rating for the company. Finally, BTIG Research cut their price objective on Ellington Financial from $15.50 to $13.50 and set a “buy” rating for the company in a report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.95.

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.