AGNC Investment Corp. (NASDAQ:AGNC) Stock Has Consensus Price Target of $10.89 According to Analysts

AGNC Investment Corp. (NASDAQ:AGNC) has earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.89.

AGNC has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $11.50 price objective (up from $11.00) on shares of AGNC Investment in a research note on Friday, July 17th. Weiss Ratings cut shares of AGNC Investment from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. 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. Compass Point cut shares of AGNC Investment from a “buy” rating to a “neutral” rating and set a $11.50 target price for the company. in a research report on Friday, July 17th. Finally, Piper Sandler cut their target price on shares of AGNC Investment from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, October 9th.

Insider Activity

In other news, EVP Bernice Bell sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $11.00, for a total value of $55,000.00. Following the completion of the transaction, the executive vice president directly owned 406,947 shares of the company’s stock, valued at $4,476,417. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AGNC Investment

Several hedge funds have recently modified their holdings of AGNC. BlackRock Inc. purchased a new position in AGNC Investment during the second quarter worth about $704,076,000. Equity Investment Corp purchased a new position in AGNC Investment in the second quarter valued at approximately $106,123,000. Bank of America Corp DE purchased a new position in AGNC Investment in the second quarter valued at approximately $77,501,000. Van ECK Associates Corp raised its holdings in AGNC Investment by 17.2% in the second quarter. Van ECK Associates Corp now owns 5,190,499 shares of the real estate investment trust’s stock valued at $56,576,000 after buying an additional 763,109 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in AGNC Investment during the second quarter valued at approximately $40,182,000. 38.28% of the stock is owned by institutional investors and hedge funds.

AGNC Investment Trading Down 1.1%

Shares of AGNC opened at $8.72 on Wednesday. AGNC Investment has a twelve month low of $8.41 and a twelve month high of $12.19. The stock’s 50 day moving average is $10.01 and its two-hundred day moving average is $10.41. The firm has a market capitalization of $10.34 billion, a PE ratio of 4.59 and a beta of 1.36.

AGNC Investment (NASDAQ:AGNC) last announced its quarterly earnings data on Monday, July 20th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $305.00 million for the quarter, compared to analyst estimates of $1.06 billion. AGNC Investment had a return on equity of 17.96% and a net margin of 57.94%. During the same quarter in the prior year, the company posted ($0.17) earnings per share. On average, sell-side analysts predict that AGNC Investment will post 1.60 EPS for the current year.

AGNC Investment Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 16.5%. The ex-dividend date of this dividend is Friday, October 30th. AGNC Investment’s dividend payout ratio (DPR) is 75.79%.

About AGNC Investment

AGNC Investment Corp. is an internally managed real estate investment trust that invests primarily in agency residential mortgage-backed securities. Its portfolio generally includes mortgage pass-through securities and collateralized mortgage obligations issued or guaranteed by Fannie Mae, Freddie Mac, or Ginnie Mae. Because these securities carry government or government-sponsored enterprise backing, the company’s investment strategy focuses on interest-rate and prepayment risks rather than traditional residential credit risk.

AGNC finances its investments largely through repurchase agreements and uses interest-rate swaps, swaptions, and other hedging instruments to manage exposure to changing interest rates and funding costs.