Prevail Innovative Wealth Advisors LLC Invests $2.97 Million in Ellington Financial Inc. (NYSE:EFC)

Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Ellington Financial Inc. (NYSE:EFC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 245,686 shares of the financial services provider’s stock, valued at approximately $2,968,000. Ellington Financial makes up approximately 1.1% of Prevail Innovative Wealth Advisors LLC’s holdings, making the stock its 28th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Ellington Financial by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,879,336 shares of the financial services provider’s stock worth $57,625,000 after acquiring an additional 45,979 shares in the last quarter. Easterly Investment Partners LLC acquired a new stake in Ellington Financial in the 1st quarter valued at $23,326,000. UBS Group AG lifted its position in Ellington Financial by 509.5% during the 4th quarter. UBS Group AG now owns 774,816 shares of the financial services provider’s stock worth $9,848,000 after buying an additional 647,700 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Ellington Financial by 32.3% during the 2nd quarter. Van ECK Associates Corp now owns 751,997 shares of the financial services provider’s stock worth $9,084,000 after buying an additional 183,544 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Ellington Financial by 20.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 658,398 shares of the financial services provider’s stock valued at $8,368,000 after acquiring an additional 111,314 shares in the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.

Insider Buying and Selling at Ellington Financial

In other Ellington Financial news, CIO Michael W. Vranos sold 5,900 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total value of $71,508.00. Following the transaction, the executive now directly owns 179,655 shares in the company, valued at $2,177,418.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CIO Michael W. Vranos sold 8,300 shares of Ellington Financial stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $12.15, for a total transaction of $100,845.00. Following the completion of the sale, the executive now directly owns 160,874 shares of the company’s stock, valued at approximately $1,954,619.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CIO Michael W. Vranos sold 5,900 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total value of $71,508.00. Following the completion of the sale, the executive now owns 179,655 shares of the company’s stock, valued at $2,177,418.60. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Ellington Financial Stock Performance

Shares of EFC opened at $13.23 on Friday. The company has a debt-to-equity ratio of 10.84, a current ratio of 73.16 and a quick ratio of 73.16. The firm has a 50-day moving average of $12.91 and a 200-day moving average of $12.13. The company has a market cap of $1.15 billion, a PE ratio of 20.67 and a beta of 1.98. Ellington Financial Inc. has a one year low of $10.88 and a one year high of $13.50.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $33.60 million for the quarter, compared to the consensus estimate of $37.20 million. Ellington Financial had a return on equity of 9.76% and a net margin of 103.55%. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, equities analysts forecast that Ellington Financial Inc. will post 1.37 earnings per share for the current year.

Ellington Financial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be paid a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 11.79%. The ex-dividend date of this dividend is Monday, September 30th. Ellington Financial’s dividend payout ratio (DPR) is presently 243.75%.

Wall Street Analyst Weigh In

Separately, JMP Securities dropped their target price on Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Ellington Financial presently has a consensus rating of “Moderate Buy” and an average price target of $13.85.

Ellington Financial 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.