Fortitude Financial LLC Buys 48,908 Shares of AGNC Investment Corp. $AGNC
by Danessa Lincoln · The Markets DailyFortitude Financial LLC lifted its stake in shares of AGNC Investment Corp. (NASDAQ:AGNC – Free Report) by 45.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 157,547 shares of the real estate investment trust’s stock after buying an additional 48,908 shares during the period. AGNC Investment comprises about 1.4% of Fortitude Financial LLC’s holdings, making the stock its 15th largest position. Fortitude Financial LLC’s holdings in AGNC Investment were worth $1,689,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. GoalVest Advisory LLC purchased a new stake in shares of AGNC Investment in the fourth quarter valued at about $26,000. Sound Income Strategies LLC lifted its position in shares of AGNC Investment by 61.1% during the fourth quarter. Sound Income Strategies LLC now owns 2,762 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,048 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in AGNC Investment during the third quarter worth about $29,000. Flagship Harbor Advisors LLC bought a new stake in AGNC Investment in the 4th quarter worth about $33,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in AGNC Investment by 110.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,251 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,708 shares in the last quarter. 38.28% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at AGNC Investment
In related news, Director Gary D. Kain sold 700,000 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $11.91, for a total transaction of $8,337,000.00. Following the sale, the director directly owned 2,189,091 shares in the company, valued at approximately $26,072,073.81. This represents a 24.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth L. Pollack sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $12.11, for a total transaction of $605,500.00. Following the completion of the transaction, the executive vice president directly owned 552,297 shares of the company’s stock, valued at approximately $6,688,316.67. This trade represents a 8.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 775,000 shares of company stock worth $9,246,000. 0.40% of the stock is owned by company insiders.
AGNC Investment Stock Performance
AGNC traded up $0.34 during midday trading on Friday, reaching $10.90. The company had a trading volume of 20,754,740 shares, compared to its average volume of 18,673,906. AGNC Investment Corp. has a 12-month low of $8.07 and a 12-month high of $12.19. The business has a 50-day moving average price of $10.66 and a two-hundred day moving average price of $10.65. The stock has a market cap of $12.24 billion, a PE ratio of 7.79 and a beta of 1.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.21 and a current ratio of 0.21.
AGNC Investment (NASDAQ:AGNC – Get Free Report) last issued its quarterly earnings results on Monday, January 26th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). AGNC Investment had a return on equity of 18.32% and a net margin of 47.40%.The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $354.75 million. On average, sell-side analysts expect that AGNC Investment Corp. will post 1.61 earnings per share for the current fiscal year.
AGNC Investment Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Monday, May 11th. Stockholders of record on Thursday, April 30th will be given a dividend of $0.12 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Thursday, April 30th. AGNC Investment’s dividend payout ratio is currently 102.86%.
Wall Street Analyst Weigh In
Several equities analysts have commented on AGNC shares. Piper Sandler dropped their target price on shares of AGNC Investment from $12.50 to $10.50 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen lowered AGNC Investment from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AGNC Investment in a research report on Friday, March 27th. Wells Fargo & Company lifted their price target on AGNC Investment from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Finally, Barclays upped their price objective on AGNC Investment from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.03.
Get Our Latest Research Report on AGNC Investment
About AGNC Investment
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.