Harbor Capital Advisors Inc. Sells 255,419 Shares of Ellington Financial Inc. (NYSE:EFC)

Harbor Capital Advisors Inc. decreased its stake in Ellington Financial Inc. (NYSE:EFC) by 34.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,888 shares of the financial services provider’s stock after selling 255,419 shares during the period. Harbor Capital Advisors Inc.’s holdings in Ellington Financial were worth $6,549,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EFC. California State Teachers Retirement System grew its holdings in Ellington Financial by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 81,097 shares of the financial services provider’s stock worth $983,000 after purchasing an additional 873 shares during the period. Maryland State Retirement & Pension System grew its holdings in Ellington Financial by 3.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 30,531 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 880 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Ellington Financial by 4.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,364 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 900 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Ellington Financial by 162.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,602 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,610 shares during the period. Finally, CenterStar Asset Management LLC grew its holdings in Ellington Financial by 14.6% during the first quarter. CenterStar Asset Management LLC now owns 12,828 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 1,638 shares during the period. Institutional investors own 55.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EFC shares. Keefe, Bruyette & Woods lifted their price target on Ellington Financial from $13.75 to $14.50 and gave the stock an “outperform” rating in a report on Monday, March 3rd. UBS Group reiterated a “neutral” rating on shares of Ellington Financial in a report on Wednesday, May 14th. Finally, B. Riley lifted their price target on Ellington Financial from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, May 15th.

Ellington Financial Trading Up 1.5%

Shares of NYSE:EFC opened at $12.97 on Wednesday. Ellington Financial Inc. has a 12-month low of $11.12 and a 12-month high of $14.40. The stock has a market cap of $1.23 billion, a PE ratio of 9.90 and a beta of 0.99. The business has a 50 day moving average of $12.59 and a 200-day moving average of $12.68. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. The company had revenue of $82.91 million during the quarter, compared to analysts’ expectations of $107.06 million. As a group, equities research analysts forecast that Ellington Financial Inc. will post 1.38 earnings per share for the current year.

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.56 annualized dividend and a yield of 12.03%. Ellington Financial’s dividend payout ratio is currently 110.64%.

Ellington Financial Company Profile

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.