AGNC Investment (NASDAQ:AGNC) Stock Falls 1.6% – Here’s What Happened

by · The Markets Daily

AGNC Investment Corp. (NASDAQ:AGNC – Get Free Report)’s share price fell 1.6% on Monday. The company traded as low as $8.62 and last traded at $8.65. 43,082,614 shares traded hands during mid-day trading, an increase of 104% from the average session volume of 21,120,494 shares. The stock had previously closed at $8.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AGNC shares. Compass Point downgraded shares of AGNC Investment from a “buy” rating to a “neutral” rating and set a $11.50 price objective for the company. in a research note on Friday, July 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $11.50 target price (up from $11.00) on shares of AGNC Investment in a research report on Friday, July 17th. 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 report on Wednesday, July 22nd. Wells Fargo & Company reduced their price target on AGNC Investment from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Finally, Weiss Ratings upgraded AGNC Investment from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.11.

Get Our Latest Stock Report on AGNC

AGNC Investment Trading Down 1.6%

The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 4.55 and a beta of 1.36. The firm’s 50 day moving average price is $10.43 and its two-hundred day moving average price is $10.51.

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

AGNC Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 16.6%. AGNC Investment’s dividend payout ratio is presently 75.79%.

Insider Activity at AGNC Investment

In related news, EVP Bernice Bell sold 5,000 shares of AGNC Investment stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $11.00, for a total transaction of $55,000.00. Following the completion of the sale, the executive vice president owned 406,947 shares of the company’s stock, valued at approximately $4,476,417. The trade was a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On AGNC Investment

Several hedge funds have recently bought and sold shares of AGNC. BlackRock Inc. acquired a new position in shares of AGNC Investment in the second quarter valued at approximately $704,076,000. Equity Investment Corp acquired a new stake in AGNC Investment during the 2nd quarter worth approximately $106,123,000. Bank of America Corp DE acquired a new stake in AGNC Investment during the 2nd quarter worth approximately $77,501,000. Van ECK Associates Corp boosted its stake in AGNC Investment by 17.2% in the 2nd 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 purchasing an additional 763,109 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in AGNC Investment in the 2nd quarter valued at $40,182,000. 38.28% of the stock is currently owned by institutional investors and hedge funds.

About AGNC Investment

(Get Free Report)

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.

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