SummitTX Capital L.P. trimmed its stake in shares of AGNC Investment Corp. (NASDAQ:AGNC – Free Report) by 33.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 223,801 shares of the real estate investment trust’s stock after selling 111,452 shares during the quarter. SummitTX Capital L.P.’s holdings in AGNC Investment were worth $2,245,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of AGNC. Sona Asset Management US LLC bought a new position in shares of AGNC Investment in the first quarter worth $1,003,000. Everest Financial Group LLC acquired a new stake in AGNC Investment during the first quarter worth about $313,000. Van Diest Capital LLC acquired a new stake in AGNC Investment during the first quarter worth about $121,000. Cannell & Spears LLC increased its holdings in AGNC Investment by 26.9% in the 1st quarter. Cannell & Spears LLC now owns 139,061 shares of the real estate investment trust’s stock valued at $1,394,000 after buying an additional 29,521 shares during the period. Finally, Inceptionr LLC bought a new position in AGNC Investment in the 1st quarter valued at about $362,000. 38.28% of the stock is owned by institutional investors and hedge funds.
AGNC Investment Stock Performance
Shares of AGNC opened at $11.07 on Wednesday. AGNC Investment Corp. has a 52 week low of $9.31 and a 52 week high of $12.19. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 5.83 and a beta of 1.31. The stock has a fifty day moving average of $10.63 and a 200-day moving average of $10.81.
AGNC Investment Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, August 11th. Investors of record on Friday, July 31st will be given a dividend of $0.12 per share. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 13.0%. AGNC Investment’s dividend payout ratio (DPR) is currently 75.79%.
Insider Transactions at AGNC Investment
In other AGNC Investment news, Director Donna Blank sold 22,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $10.78, for a total value of $237,160.00. Following the completion of the transaction, the director directly owned 96,471 shares in the company, valued at approximately $1,039,957.38. This represents a 18.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on AGNC shares. UBS Group upped their price target on shares of AGNC Investment from $10.50 to $11.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Wall Street Zen raised shares of AGNC Investment from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Piper Sandler lifted their price objective on shares of AGNC Investment from $11.50 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Wells Fargo & Company lowered their price objective on shares of AGNC Investment from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods cut their target price on AGNC Investment from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.11.
Get Our Latest Analysis on AGNC
AGNC Investment Profile
AGNC Investment Corp. is a self-managed real estate investment trust (REIT) that primarily acquires and manages a portfolio of residential mortgage-backed securities guaranteed by U.S. government-sponsored enterprises such as Ginnie Mae, Fannie Mae and Freddie Mac. The company employs a leveraged total return strategy, borrowing against its securities to enhance income potential while using interest rate hedges to manage risk. AGNC’s investment objective is to generate attractive monthly dividends and long-term capital appreciation for its shareholders.
Founded in 2008 and headquartered in Bethesda, Maryland, AGNC focuses exclusively on U.S.
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