AGNC Investment (NASDAQ:AGNC) Trading Down 1.8% After Earnings Miss

AGNC Investment Corp. (NASDAQ:AGNC)’s stock price dropped 1.8% during mid-day trading on Monday following a weaker than expected earnings announcement. The company traded as low as $10.40 and last traded at $10.41. Approximately 2,286,908 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 12,935,970 shares. The stock had previously closed at $10.60.

The real estate investment trust reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.04). AGNC Investment had a net margin of 16.15% and a return on equity of 26.21%. The business had revenue of $756.00 million during the quarter, compared to analysts’ expectations of $219.50 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share.

AGNC Investment Dividend Announcement

The business also recently disclosed a oct 24 dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, October 31st. This represents a dividend yield of 14%. AGNC Investment’s payout ratio is 158.24%.

Analyst Upgrades and Downgrades

AGNC has been the subject of several analyst reports. JMP Securities restated a “market perform” rating on shares of AGNC Investment in a research note on Wednesday, August 28th. Keefe, Bruyette & Woods upped their target price on shares of AGNC Investment from $10.00 to $10.25 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on shares of AGNC Investment from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on AGNC Investment from $9.50 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company upgraded AGNC Investment from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $12.00 in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.33.

Insider Transactions at AGNC Investment

In other AGNC Investment news, CFO Bernice Bell sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $10.07, for a total transaction of $50,350.00. Following the transaction, the chief financial officer now directly owns 298,182 shares in the company, valued at $3,002,692.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On AGNC Investment

Several institutional investors and hedge funds have recently made changes to their positions in AGNC. Norden Group LLC boosted its position in AGNC Investment by 985.9% during the first quarter. Norden Group LLC now owns 185,562 shares of the real estate investment trust’s stock valued at $1,837,000 after buying an additional 168,473 shares during the period. Allspring Global Investments Holdings LLC increased its stake in AGNC Investment by 2.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,237,964 shares of the real estate investment trust’s stock worth $86,169,000 after purchasing an additional 189,444 shares during the period. Vanguard Group Inc. lifted its position in AGNC Investment by 3.7% in the first quarter. Vanguard Group Inc. now owns 65,735,466 shares of the real estate investment trust’s stock valued at $650,781,000 after purchasing an additional 2,368,658 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of AGNC Investment by 3.5% during the first quarter. California State Teachers Retirement System now owns 674,005 shares of the real estate investment trust’s stock valued at $6,673,000 after purchasing an additional 23,074 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of AGNC Investment in the third quarter worth approximately $17,463,000. Institutional investors own 38.28% of the company’s stock.

AGNC Investment Trading Down 0.7 %

The firm’s 50 day moving average is $10.31 and its 200 day moving average is $9.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $7.23 billion, a PE ratio of 10.86 and a beta of 1.47.

AGNC Investment Company Profile

AGNC Investment Corp., formerly American Capital Agency Corp., is a real estate investment trust. The Company invests in agency residential mortgage-backed securities on a leveraged basis. Its investments consist of residential mortgage pass-through securities and collateralized mortgage obligations (CMOs) for which the principal and interest payments are guaranteed by a government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), or by the United States Government agency, such as the Government National Mortgage Association (Ginnie Mae) (collectively, GSEs).