Ellington Financial (NYSE:EFC) Shares Acquired Rep. Virginia Foxx

Representative Virginia Foxx (R-North Carolina) recently bought shares of Ellington Financial Inc. NYSE: EFC. In a filing disclosed on October 21st, the Representative disclosed that they had bought between $1,001 and $15,000 in Ellington Financial stock on September 30th.

Representative Virginia Foxx also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Hercules Capital NYSE: HTGC on 8/20/2024.
• Purchased $1,001 - $15,000 in shares of Energy Transfer NYSE: ET on 8/19/2024.
• Purchased $1,001 - $15,000 in shares of Alliance Resource Partners NASDAQ: ARLP on 8/14/2024.

Ellington Financial Trading Down 0.1 %

Ellington Financial stock traded down $0.01 during mid-day trading on Wednesday, hitting $12.60. The company's stock had a trading volume of 629,564 shares, compared to its average volume of 972,636. The business has a 50 day moving average price of $12.95 and a 200-day moving average price of $12.40. The company has a debt-to-equity ratio of 10.84, a current ratio of 73.16 and a quick ratio of 73.16. Ellington Financial Inc. has a 12 month low of $10.88 and a 12 month high of $13.46. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 19.69 and a beta of 1.98.

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

Ellington Financial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 25th. Investors of record on Thursday, October 31st will be issued a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a dividend yield of 12.38%. The ex-dividend date of this dividend is Thursday, October 31st. Ellington Financial's dividend payout ratio is currently 243.75%.

Insider Buying and Selling

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of Ellington Financial stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $12.48, for a total value of $174,720.00. Following the completion of the transaction, the executive now directly owns 168,359 shares of the company's stock, valued at approximately $2,101,120.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Ellington Financial by 35.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 992 shares during the last quarter. Norden Group LLC boosted its holdings in Ellington Financial by 763.2% in the first quarter. Norden Group LLC now owns 107,506 shares of the financial services provider's stock worth $1,270,000 after acquiring an additional 95,051 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Ellington Financial by 0.6% in the first quarter. Principal Financial Group Inc. now owns 411,161 shares of the financial services provider's stock worth $4,856,000 after acquiring an additional 2,434 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Ellington Financial by 12.6% during the first quarter. Van ECK Associates Corp now owns 568,453 shares of the financial services provider's stock valued at $6,713,000 after acquiring an additional 63,543 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Ellington Financial by 67.0% in the 1st quarter. BNP Paribas Financial Markets now owns 37,784 shares of the financial services provider's stock worth $446,000 after purchasing an additional 15,156 shares during the last quarter. Hedge funds and other institutional investors own 55.62% of the company's stock.

Wall Street Analyst Weigh In

Separately, JMP Securities decreased their price objective on shares of Ellington Financial from $14.50 to $14.00 and set a "market outperform" rating on the stock in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Ellington Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.56.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina's 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina's 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

Ellington Financial Company 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.