Bank of America Corp DE Decreases Position in AGNC Investment Corp. $AGNC

Bank of America Corp DE decreased its holdings in AGNC Investment Corp. (NASDAQ:AGNC) by 20.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 8,658,310 shares of the real estate investment trust’s stock after selling 2,192,167 shares during the quarter. Bank of America Corp DE’s holdings in AGNC Investment were worth $86,843,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Edgestream Partners L.P. raised its stake in shares of AGNC Investment by 58.3% in the first quarter. Edgestream Partners L.P. now owns 392,817 shares of the real estate investment trust’s stock valued at $3,940,000 after acquiring an additional 144,685 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in AGNC Investment by 4.7% in the first quarter. Janus Henderson Group PLC now owns 486,442 shares of the real estate investment trust’s stock valued at $4,879,000 after purchasing an additional 21,800 shares during the period. Amundi grew its stake in AGNC Investment by 194.9% during the 1st quarter. Amundi now owns 197,626 shares of the real estate investment trust’s stock worth $1,982,000 after purchasing an additional 130,617 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in AGNC Investment by 18.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 16,273 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 2,576 shares in the last quarter. Finally, Talon Private Wealth LLC acquired a new position in AGNC Investment during the 1st quarter worth $115,000. Hedge funds and other institutional investors own 38.28% of the company’s stock.

AGNC Investment Trading Up 2.2%

Shares of AGNC stock opened at $10.84 on Friday. The firm has a fifty day moving average price of $10.69 and a 200 day moving average price of $10.78. The company has a market cap of $12.85 billion, a P/E ratio of 5.71 and a beta of 1.32. AGNC Investment Corp. has a 12 month low of $9.31 and a 12 month high of $12.19.

AGNC Investment (NASDAQ:AGNC) last posted its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. AGNC Investment had a return on equity of 17.96% and a net margin of 57.94%.The company had revenue of $305.00 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm earned ($0.17) earnings per share. On average, equities analysts forecast that AGNC Investment Corp. will post 1.6 EPS for the current year.

AGNC Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st will be issued a $0.12 dividend. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%. AGNC Investment’s dividend payout ratio is presently 75.79%.

Analyst Ratings Changes

A number of research firms have issued reports on AGNC. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $12.00 price target on shares of AGNC Investment in a research report on Friday, April 24th. Piper Sandler boosted their price objective on AGNC Investment from $11.50 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods cut their target price on shares of AGNC Investment from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of AGNC Investment from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company reduced their target price on shares of AGNC Investment from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.11.

Insider Activity at AGNC Investment

In other news, EVP Bernice Bell sold 5,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $11.00, for a total value of $55,000.00. Following the transaction, the executive vice president owned 406,947 shares in the company, valued at approximately $4,476,417. This represents a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

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.