Dupree Financial Group LLC Grows Stock Holdings in Annaly Capital Management, Inc. (NYSE:NLY)

23 Oct 2024, 07:33 by Jessica Moore · The Cerbat Gem

Dupree Financial Group LLC lifted its position in shares of Annaly Capital Management, Inc. (NYSE:NLY – Free Report) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 407,543 shares of the real estate investment trust’s stock after acquiring an additional 999 shares during the period. Annaly Capital Management makes up about 3.3% of Dupree Financial Group LLC’s portfolio, making the stock its 7th largest holding. Dupree Financial Group LLC owned approximately 0.08% of Annaly Capital Management worth $8,179,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NLY. Allspring Global Investments Holdings LLC raised its position in Annaly Capital Management by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 17,990,064 shares of the real estate investment trust’s stock valued at $361,061,000 after purchasing an additional 1,342,056 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Annaly Capital Management by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,092,118 shares of the real estate investment trust’s stock worth $77,996,000 after buying an additional 41,069 shares during the last quarter. Algebris UK Ltd boosted its stake in Annaly Capital Management by 195.9% in the first quarter. Algebris UK Ltd now owns 4,034,821 shares of the real estate investment trust’s stock valued at $87,532,000 after buying an additional 2,671,236 shares in the last quarter. Van ECK Associates Corp grew its position in Annaly Capital Management by 9.4% in the first quarter. Van ECK Associates Corp now owns 1,953,594 shares of the real estate investment trust’s stock valued at $38,466,000 after acquiring an additional 168,068 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Annaly Capital Management by 2.6% in the second quarter. Victory Capital Management Inc. now owns 1,864,655 shares of the real estate investment trust’s stock valued at $35,540,000 after acquiring an additional 47,116 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

Annaly Capital Management Stock Down 1.1 %

Shares of NYSE:NLY opened at $19.65 on Wednesday. The firm has a market cap of $9.83 billion, a P/E ratio of -20.26 and a beta of 1.51. Annaly Capital Management, Inc. has a 12-month low of $14.52 and a 12-month high of $21.11. The business has a fifty day simple moving average of $20.11 and a 200 day simple moving average of $19.74.

Annaly Capital Management (NYSE:NLY – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $318.00 million. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, equities research analysts expect that Annaly Capital Management, Inc. will post 2.66 EPS for the current year.

Annaly Capital Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 13.23%. The ex-dividend date of this dividend is Monday, September 30th. Annaly Capital Management’s dividend payout ratio is presently -268.04%.

Insiders Place Their Bets

In other news, CEO David L. Finkelstein sold 50,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.05, for a total value of $1,002,500.00. Following the sale, the chief executive officer now directly owns 612,469 shares of the company’s stock, valued at approximately $12,280,003.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

NLY has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $19.00 to $23.00 in a research note on Friday, September 20th. StockNews.com lowered shares of Annaly Capital Management from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Compass Point upped their price target on shares of Annaly Capital Management from $22.00 to $23.50 and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Annaly Capital Management currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

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