Strategic Financial Concepts LLC Grows Position in Ellington Financial Inc. (NYSE:EFC)

Strategic Financial Concepts LLC boosted its stake in Ellington Financial Inc. (NYSE:EFC) by 1,030.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,372 shares of the financial services provider’s stock after buying an additional 199,972 shares during the period. Strategic Financial Concepts LLC owned approximately 0.24% of Ellington Financial worth $2,659,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its position in shares of 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 period. State Street Corp lifted its stake in Ellington Financial by 4.1% during the 3rd quarter. State Street Corp now owns 3,140,371 shares of the financial services provider’s stock worth $40,885,000 after acquiring an additional 124,943 shares in the last quarter. Barclays PLC boosted its holdings in Ellington Financial by 230.3% during the 3rd quarter. Barclays PLC now owns 138,440 shares of the financial services provider’s stock valued at $1,784,000 after acquiring an additional 96,525 shares during the period. JPMorgan Chase & Co. grew its position in Ellington Financial by 48.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 231,543 shares of the financial services provider’s stock valued at $2,985,000 after acquiring an additional 75,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ellington Financial by 88.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 134,926 shares of the financial services provider’s stock worth $1,739,000 after purchasing an additional 63,515 shares during the period. Institutional investors and hedge funds own 55.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EFC shares. B. Riley raised shares of Ellington Financial to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $14.00 price target on shares of Ellington Financial in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Ellington Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.58.

Ellington Financial Stock Performance

Shares of Ellington Financial stock opened at $12.70 on Monday. The business has a 50-day simple moving average of $12.34 and a 200-day simple moving average of $12.58. 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 one year low of $10.88 and a one year high of $13.46. The company has a market cap of $1.15 billion, a PE ratio of 9.70 and a beta of 1.97.

Ellington Financial Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a yield of 12.28%. The ex-dividend date is Friday, January 31st. Ellington Financial’s dividend payout ratio (DPR) is 119.08%.

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.