Wells Fargo & Company MN Has $178.21 Million Position in AGNC Investment Corp. (AGNC)
Wells Fargo & Company MN cut its holdings in AGNC Investment Corp. (NASDAQ:AGNC) by 7.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 9,565,788 shares of the real estate investment trust’s stock after selling 799,813 shares during the quarter. Wells Fargo & Company MN’s holdings in AGNC Investment were worth $178,210,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. Qube Research & Technologies Ltd purchased a new stake in AGNC Investment during the second quarter worth $127,000. Stratos Wealth Partners LTD. purchased a new stake in AGNC Investment during the third quarter worth $144,000. CIBC Private Wealth Group LLC boosted its position in AGNC Investment by 6,645.0% during the second quarter. CIBC Private Wealth Group LLC now owns 8,094 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 7,974 shares in the last quarter. NEXT Financial Group Inc purchased a new stake in AGNC Investment during the third quarter worth $170,000. Finally, First Hawaiian Bank purchased a new stake in AGNC Investment during the third quarter worth $170,000. Hedge funds and other institutional investors own 58.95% of the company’s stock.
Shares of NASDAQ:AGNC opened at $18.08 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.29 and a debt-to-equity ratio of 0.03. AGNC Investment Corp. has a 52-week low of $17.51 and a 52-week high of $20.84. The firm has a market capitalization of $8.57 billion, a PE ratio of 7.35, a P/E/G ratio of 2.45 and a beta of 0.10.
The business also recently disclosed a nov 18 dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 30th will be given a $0.18 dividend. The ex-dividend date is Thursday, November 29th. AGNC Investment’s dividend payout ratio is currently 87.80%.
In related news, Director Larry K. Harvey acquired 4,000 shares of AGNC Investment stock in a transaction dated Tuesday, October 30th. The shares were acquired at an average cost of $17.74 per share, for a total transaction of $70,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Morris A. Davis sold 6,797 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $19.12, for a total value of $129,958.64. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.
A number of research firms have commented on AGNC. BidaskClub downgraded AGNC Investment from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays decreased their target price on AGNC Investment from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday, October 26th. JPMorgan Chase & Co. boosted their target price on AGNC Investment from $18.00 to $18.50 and gave the stock a “$19.11” rating in a research report on Monday, July 23rd. Maxim Group boosted their target price on AGNC Investment from $19.25 to $19.75 and gave the stock a “buy” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research upgraded AGNC Investment from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Monday, September 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.29.
AGNC Investment 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).
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