Chicago Partners Investment Group LLC Sells 13,341 Shares of Ellington Financial Inc. (NYSE:EFC)

Chicago Partners Investment Group LLC reduced its stake in shares of Ellington Financial Inc. (NYSE:EFC) by 31.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 29,137 shares of the financial services provider’s stock after selling 13,341 shares during the period. Chicago Partners Investment Group LLC’s holdings in Ellington Financial were worth $354,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McIlrath & Eck LLC bought a new stake in Ellington Financial during the third quarter worth $62,000. Prospera Private Wealth LLC bought a new stake in shares of Ellington Financial in the 3rd quarter worth $68,000. Members Trust Co purchased a new stake in shares of Ellington Financial in the third quarter valued at about $129,000. Atom Investors LP bought a new position in shares of Ellington Financial during the third quarter valued at about $130,000. Finally, Creative Planning purchased a new position in Ellington Financial during the third quarter worth about $141,000. 55.62% of the stock is owned by hedge funds and other institutional investors.

Ellington Financial Stock Performance

NYSE EFC opened at $12.62 on Wednesday. The company has a market capitalization of $1.14 billion, a PE ratio of 9.63 and a beta of 1.97. The company has a debt-to-equity ratio of 10.87, a quick ratio of 37.04 and a current ratio of 37.04. Ellington Financial Inc. has a 52-week low of $10.88 and a 52-week high of $13.46. The company has a 50-day simple moving average of $12.33 and a 200 day simple moving average of $12.59.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The company had revenue of $33.63 million during the quarter, compared to analyst estimates of $37.95 million. During the same quarter last year, the business posted $0.33 EPS. On average, research analysts predict that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, January 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.56 annualized dividend and a dividend yield of 12.37%. Ellington Financial’s payout ratio is presently 119.08%.

Wall Street Analyst Weigh In

EFC has been the subject of several analyst reports. JMP Securities reissued a “market outperform” rating and set a $14.00 target price on shares of Ellington Financial in a research report on Thursday, January 23rd. B. Riley raised Ellington Financial to a “strong-buy” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ellington Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.58.

About Ellington Financial

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.