The Manufacturers Life Insurance Company bought a new stake in AGNC Investment Corp. (NASDAQ:AGNC – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 549,291 shares of the real estate investment trust’s stock, valued at approximately $5,987,000.
Other institutional investors also recently bought and sold shares of the company. Danske Bank A S purchased a new position in AGNC Investment in the 2nd quarter worth approximately $26,000. Osbon Capital Management LLC bought a new stake in AGNC Investment in the second quarter valued at approximately $28,000. N.E.W. Advisory Services LLC purchased a new stake in shares of AGNC Investment during the second quarter valued at approximately $28,000. Avion Wealth grew its holdings in shares of AGNC Investment by 286.3% in the first quarter. Avion Wealth now owns 2,727 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 2,021 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of AGNC Investment by 100.9% in the third quarter. National Bank of Canada FI now owns 3,365 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,690 shares during the last quarter. 38.28% of the stock is currently owned by hedge funds and other institutional investors.
AGNC Investment Stock Performance
AGNC opened at $10.73 on Tuesday. AGNC Investment Corp. has a 52-week low of $9.62 and a 52-week high of $12.19. The stock has a market capitalization of $12.72 billion, a PE ratio of 5.65 and a beta of 1.32. The stock’s 50 day moving average price is $10.89 and its 200-day moving average price is $10.69.
AGNC Investment Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%. AGNC Investment’s payout ratio is presently 75.79%.
Insider Buying and Selling at AGNC Investment
In related news, EVP Bernice Bell sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $11.00, for a total transaction of $55,000.00. Following the transaction, the executive vice president owned 406,947 shares in the company, valued at $4,476,417. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.
Wall Street Analyst Weigh In
AGNC has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of AGNC Investment from $11.50 to $12.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $11.50 price target (up from $11.00) on shares of AGNC Investment in a report on Friday, July 17th. Keefe, Bruyette & Woods decreased their price objective on shares of AGNC Investment from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Compass Point downgraded shares of AGNC Investment from a “buy” rating to a “neutral” rating and set a $11.50 price objective for the company. in a research note on Friday, July 17th. Finally, Wells Fargo & Company dropped their target price on shares of AGNC Investment from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, AGNC Investment has a consensus rating of “Hold” and an average target price of $11.11.
Check Out Our Latest Stock Analysis on AGNC
AGNC Investment Company 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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