HighTower Advisors LLC Invests $1 Million in Ellington Financial LLC (EFC)

HighTower Advisors LLC bought a new stake in Ellington Financial LLC (NYSE:EFC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,990 shares of the financial services provider’s stock, valued at approximately $1,003,000. HighTower Advisors LLC owned approximately 0.19% of Ellington Financial at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Ellington Financial by 16.9% in the first quarter. Wells Fargo & Company MN now owns 21,534 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 3,109 shares in the last quarter. Ranger Global Real Estate Advisors LLC acquired a new position in shares of Ellington Financial in the first quarter valued at $11,078,000. BB&T Securities LLC raised its stake in shares of Ellington Financial by 21.1% in the second quarter. BB&T Securities LLC now owns 47,142 shares of the financial services provider’s stock valued at $764,000 after purchasing an additional 8,200 shares in the last quarter. Virtu KCG Holdings LLC raised its stake in shares of Ellington Financial by 254.7% in the second quarter. Virtu KCG Holdings LLC now owns 44,243 shares of the financial services provider’s stock valued at $717,000 after purchasing an additional 31,768 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Ellington Financial by 9.6% in the first quarter. Morgan Stanley now owns 329,948 shares of the financial services provider’s stock valued at $5,224,000 after purchasing an additional 29,027 shares in the last quarter. Institutional investors and hedge funds own 50.54% of the company’s stock.

A number of research analysts recently commented on the company. Zacks Investment Research upgraded Ellington Financial from a “strong sell” rating to a “hold” rating in a research note on Monday. Maxim Group reiterated a “buy” rating and issued a $20.00 price target on shares of Ellington Financial in a research report on Monday. ValuEngine upgraded Ellington Financial from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub cut Ellington Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Ellington Financial has a consensus rating of “Hold” and a consensus price target of $18.75.

Shares of Ellington Financial LLC (NYSE EFC) opened at 15.61 on Friday. The company has a market capitalization of $501.27 million, a PE ratio of 22.92 and a beta of 0.43. Ellington Financial LLC has a 12 month low of $15.30 and a 12 month high of $17.00. The firm has a 50-day moving average price of $15.71 and a 200-day moving average price of $16.18.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.06). Ellington Financial had a net margin of 26.67% and a return on equity of 5.48%. The company had revenue of $22.66 million during the quarter, compared to analyst estimates of $21.82 million. During the same period in the prior year, the firm earned $0.15 earnings per share. Ellington Financial’s revenue was down 4.9% on a year-over-year basis. On average, equities research analysts predict that Ellington Financial LLC will post $1.29 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.80 annualized dividend and a dividend yield of 11.53%. Ellington Financial’s payout ratio is 257.15%.

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Ellington Financial Company Profile

Institutional Ownership by Quarter for Ellington Financial (NYSE:EFC)

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