Arlington Asset Investment (AI) Rating Increased to Strong-Buy at Zacks Investment Research
Arlington Asset Investment (NYSE:AI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $14.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 17.55% from the stock’s current price.
According to Zacks, “Arlington Asset Investment Corp. is a principal investment firm that currently invests primarily in mortgage-related and other assets. “
Several other research firms have also recently weighed in on AI. ValuEngine upgraded Arlington Asset Investment from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. FBR & Co restated a “hold” rating and issued a $13.00 target price on shares of Arlington Asset Investment in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $13.81.
Arlington Asset Investment (NYSE:AI) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.15. Arlington Asset Investment had a negative return on equity of 8.36% and a negative net margin of 27.20%. The business had revenue of $14.87 million for the quarter, compared to analysts’ expectations of $20.17 million. equities analysts anticipate that Arlington Asset Investment will post 0.61 earnings per share for the current year.
In related news, CEO J Rock Tonkel, Jr. purchased 5,000 shares of the stock in a transaction on Friday, November 3rd. The shares were purchased at an average price of $11.00 per share, with a total value of $55,000.00. Following the transaction, the chief executive officer now directly owns 327,132 shares of the company’s stock, valued at $3,598,452. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Ernst Konzmann purchased 4,000 shares of the stock in a transaction on Friday, October 27th. The shares were bought at an average cost of $11.34 per share, for a total transaction of $45,360.00. Following the transaction, the chief financial officer now directly owns 11,457 shares in the company, valued at $129,922.38. The disclosure for this purchase can be found here. Insiders acquired a total of 14,000 shares of company stock worth $158,660 in the last 90 days. Company insiders own 5.90% of the company’s stock.
Several large investors have recently bought and sold shares of AI. Schwab Charles Investment Management Inc. increased its position in shares of Arlington Asset Investment by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 88,056 shares of the financial services provider’s stock worth $1,204,000 after purchasing an additional 532 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Arlington Asset Investment by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 27,639 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 2,070 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Arlington Asset Investment by 7.8% during the 2nd quarter. Prudential Financial Inc. now owns 124,804 shares of the financial services provider’s stock worth $1,706,000 after acquiring an additional 9,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Arlington Asset Investment by 2.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 83,850 shares of the financial services provider’s stock worth $1,147,000 after acquiring an additional 1,847 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Arlington Asset Investment by 79.2% during the 2nd quarter. Alliancebernstein L.P. now owns 27,600 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 12,200 shares during the last quarter. 37.76% of the stock is currently owned by hedge funds and other institutional investors.
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Arlington Asset Investment Company Profile
Arlington Asset Investment Corp. is an investment company. The Company focuses on acquiring and holding a levered portfolio of residential mortgage-backed securities (MBS), consisting of agency MBS and private-label MBS. Agency MBS include residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by a United States Government agency or government-sponsored enterprise (GSE), such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
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