Norden Group LLC Acquires 8,830 Shares of Ellington Financial Inc. (NYSE:EFC)

Norden Group LLC raised its holdings in Ellington Financial Inc. (NYSE:EFC) by 50.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,338 shares of the financial services provider’s stock after buying an additional 8,830 shares during the period. Norden Group LLC’s holdings in Ellington Financial were worth $349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EFC. Raymond James Financial Inc. acquired a new position in shares of Ellington Financial in the fourth quarter valued at approximately $254,000. Corient Private Wealth LLC acquired a new position in shares of Ellington Financial in the fourth quarter valued at approximately $140,000. Thrivent Financial for Lutherans grew its position in shares of Ellington Financial by 2.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 70,077 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 1,812 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Ellington Financial in the fourth quarter valued at approximately $201,000. Finally, LPL Financial LLC grew its position in shares of Ellington Financial by 4.7% in the fourth quarter. LPL Financial LLC now owns 52,793 shares of the financial services provider’s stock valued at $640,000 after purchasing an additional 2,392 shares during the last quarter. Institutional investors own 55.62% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group increased their price target on Ellington Financial from $12.00 to $12.50 and gave the stock a “neutral” rating in a research report on Thursday, July 10th. Piper Sandler reduced their target price on Ellington Financial from $15.00 to $14.50 and set an “overweight” rating on the stock in a report on Tuesday, July 1st. Finally, B. Riley raised their target price on Ellington Financial from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ellington Financial currently has an average rating of “Moderate Buy” and an average target price of $14.30.

Ellington Financial Trading Down 1.4%

NYSE EFC opened at $12.97 on Thursday. The company has a quick ratio of 42.26, a current ratio of 42.26 and a debt-to-equity ratio of 11.11. Ellington Financial Inc. has a twelve month low of $11.12 and a twelve month high of $14.40. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 9.20 and a beta of 0.98. The business’s fifty day moving average is $12.96 and its 200 day moving average is $12.88.

Ellington Financial (NYSE:EFC) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Ellington Financial had a return on equity of 12.06% and a net margin of 101.59%. The company had revenue of $82.91 million for the quarter, compared to the consensus estimate of $107.06 million. As a group, sell-side analysts expect that Ellington Financial Inc. will post 1.38 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently announced a jul 25 dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, July 31st will be given a dividend of $0.13 per share. This represents a yield of 11.8%. The ex-dividend date of this dividend is Thursday, July 31st. Ellington Financial’s dividend payout ratio is currently 110.64%.

Ellington Financial Company 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.