AGNC Investment (NASDAQ:AGNC) Price Target Raised to $8.50

AGNC Investment (NASDAQ:AGNC) had its price objective upped by JPMorgan Chase & Co. from $8.00 to $8.50 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

AGNC has been the subject of a number of other reports. Compass Point cut shares of AGNC Investment from a “buy” rating to a “neutral” rating and set a $11.50 target price for the company. in a report on Friday, July 17th. Weiss Ratings cut shares of AGNC Investment from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Wall Street Zen downgraded shares of AGNC Investment from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Wells Fargo & Company cut their price objective on shares of AGNC Investment from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Piper Sandler reduced their price objective on AGNC Investment from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.12.

AGNC Investment Price Performance

NASDAQ AGNC opened at $8.84 on Friday. The company has a 50-day moving average price of $9.79 and a 200-day moving average price of $10.36. AGNC Investment has a 52 week low of $8.38 and a 52 week high of $12.19. The firm has a market capitalization of $10.48 billion, a P/E ratio of 884.88 and a beta of 1.36.

AGNC Investment (NASDAQ:AGNC) last posted its quarterly earnings data on Monday, October 19th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.06 billion. AGNC Investment had a net margin of 2.45% and a return on equity of 18.74%. As a group, equities research analysts anticipate that AGNC Investment will post 1.58 EPS for the current year.

AGNC Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, November 10th. Investors of record on Friday, October 30th will be issued a $0.12 dividend. This represents a $1.44 annualized dividend and a yield of 16.3%. The ex-dividend date of this dividend is Friday, October 30th. AGNC Investment’s dividend payout ratio is currently 14,400.00%.

Insider Buying and Selling

In other AGNC Investment news, EVP Bernice Bell sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $11.00, for a total transaction of $55,000.00. Following the sale, the executive vice president owned 406,947 shares in the company, valued at approximately $4,476,417. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On AGNC Investment

Hedge funds have recently modified their holdings of the company. Delta Asset Management LLC TN bought a new stake in shares of AGNC Investment during the 2nd quarter valued at $25,000. Danske Bank A S bought a new position in AGNC Investment in the 2nd quarter worth $26,000. Avion Wealth boosted its holdings in AGNC Investment by 286.3% in the 1st quarter. Avion Wealth now owns 2,727 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,021 shares during the period. MCF Advisors LLC boosted its holdings in AGNC Investment by 254.1% in the 2nd quarter. MCF Advisors LLC now owns 2,408 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,728 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in AGNC Investment in the 2nd quarter worth $28,000. 38.28% of the stock is currently owned by institutional investors.

About AGNC Investment

AGNC Investment Corp. is a real estate investment trust (REIT) that invests primarily in residential mortgage pass-through securities and collateralized mortgage obligations for which principal and interest payments are guaranteed by a U.S. government-sponsored enterprise or a U.S. government agency. These investments are commonly referred to as agency mortgage-backed securities.

The company seeks to generate income through the difference between the yield on its investment portfolio and its borrowing costs, while managing interest-rate, prepayment and other market risks.