Retirement Systems of Alabama Buys New Position in AGNC Investment Corp. $AGNC

Retirement Systems of Alabama purchased a new stake in shares of AGNC Investment Corp. (NASDAQ:AGNC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,611,365 shares of the real estate investment trust’s stock, valued at approximately $14,615,000. Retirement Systems of Alabama owned 0.13% of AGNC Investment as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of AGNC. BlackRock Inc. bought a new stake in shares of AGNC Investment in the 2nd quarter worth approximately $704,076,000. Equity Investment Corp acquired a new position in shares of AGNC Investment in the 2nd quarter valued at $106,123,000. Bank of America Corp DE purchased a new position in AGNC Investment in the 2nd quarter worth about $77,501,000. Bank of New York Mellon Corp acquired a new stake in AGNC Investment during the 2nd quarter worth about $40,182,000. Finally, Advisors Capital Management LLC purchased a new position in shares of AGNC Investment in the second quarter worth approximately $35,421,000. 38.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGNC has been the topic of several recent analyst reports. Piper Sandler cut their target price on shares of AGNC Investment from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of AGNC Investment from $8.00 to $8.50 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Wall Street Zen downgraded shares of AGNC Investment from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Royal Bank Of Canada cut their price objective on AGNC Investment from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, October 21st. Finally, Keefe, Bruyette & Woods dropped their target price on AGNC Investment from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.12.

AGNC Investment Trading Down 3.3%

NASDAQ:AGNC opened at $8.20 on Friday. The firm has a market capitalization of $10.45 billion, a PE ratio of 820.82 and a beta of 1.40. AGNC Investment Corp. has a 1 year low of $8.19 and a 1 year high of $12.19. The firm’s fifty day simple moving average is $9.20 and its 200 day simple moving average is $10.36.

AGNC Investment (NASDAQ:AGNC) last released its quarterly earnings results on Monday, October 19th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. AGNC Investment had a net margin of 2.45% and a return on equity of 18.74%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.06 billion. As a group, analysts anticipate that AGNC Investment Corp. will post 1.56 EPS for the current fiscal year.

AGNC Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 9th. Investors of record on Monday, November 30th will be paid a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 17.6%. The ex-dividend date is Monday, November 30th. AGNC Investment’s dividend payout ratio (DPR) is presently 14,400.00%.

Insider Buying and Selling at AGNC Investment

In related news, CEO Peter Federico sold 67,794 shares of the business’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $8.87, for a total transaction of $601,332.78. Following the transaction, the chief executive officer directly owned 1,846,083 shares in the company, valued at $16,374,756.21. The trade was a 3.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.40% of the company’s stock.

About AGNC Investment

AGNC Investment Corp. is a mortgage real estate investment trust that focuses primarily on investing in agency residential mortgage-backed securities. These securities are backed by mortgages and carry guarantees or support from U.S. government agencies or government-sponsored enterprises. The company’s portfolio includes mortgage pass-through securities and collateralized mortgage obligations. AGNC finances its investments and uses hedging strategies to manage risks associated with interest rates and mortgage markets.