Summit Securities Group LLC Sells 48,400 Shares of AGNC Investment Corp. $AGNC

Summit Securities Group LLC lowered its position in AGNC Investment Corp. (NASDAQ:AGNC) by 40.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 72,600 shares of the real estate investment trust’s stock after selling 48,400 shares during the period. Summit Securities Group LLC’s holdings in AGNC Investment were worth $728,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. GoalVest Advisory LLC purchased a new position in AGNC Investment in the 4th quarter worth $26,000. Sound Income Strategies LLC boosted its position in AGNC Investment by 61.1% during the fourth quarter. Sound Income Strategies LLC now owns 2,762 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 1,048 shares during the period. WealthCollab LLC bought a new position in shares of AGNC Investment during the third quarter valued at about $33,000. National Bank of Canada FI grew its stake in shares of AGNC Investment by 100.9% during the third quarter. National Bank of Canada FI now owns 3,365 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,690 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of AGNC Investment during the fourth quarter valued at about $33,000. 38.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AGNC. UBS Group boosted their target price on AGNC Investment from $10.50 to $11.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AGNC Investment in a research note on Wednesday, June 24th. Wall Street Zen upgraded AGNC Investment from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. lowered their price objective on AGNC Investment from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $12.00 price objective on shares of AGNC Investment in a research note on Friday, April 24th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.25.

Insider Transactions at AGNC Investment

In other AGNC Investment news, Director Donna Blank sold 22,000 shares of AGNC Investment stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $10.78, for a total transaction of $237,160.00. Following the sale, the director directly owned 96,471 shares of the company’s stock, valued at approximately $1,039,957.38. The trade was a 18.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Peter J. Federico sold 64,412 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $11.08, for a total value of $713,684.96. Following the transaction, the chief executive officer owned 1,927,083 shares in the company, valued at $21,352,079.64. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 215,234 shares of company stock worth $2,364,022 in the last ninety days. Insiders own 0.40% of the company’s stock.

AGNC Investment Stock Performance

AGNC opened at $11.06 on Friday. AGNC Investment Corp. has a 52-week low of $9.11 and a 52-week high of $12.19. The stock has a market capitalization of $12.70 billion, a PE ratio of 9.14 and a beta of 1.31. The stock’s 50 day moving average price is $10.55 and its 200-day moving average price is $10.81.

AGNC Investment (NASDAQ:AGNC) last announced its quarterly earnings results on Monday, April 20th. The real estate investment trust reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of ($114.00) million during the quarter, compared to analyst estimates of $411.57 million. AGNC Investment had a return on equity of 18.31% and a net margin of 39.50%. Research analysts forecast that AGNC Investment Corp. will post 1.56 EPS for the current fiscal year.

AGNC Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Friday, July 31st will be given a $0.12 dividend. This represents a c) annualized dividend and a dividend yield of 13.0%. The ex-dividend date of this dividend is Friday, July 31st. AGNC Investment’s dividend payout ratio (DPR) is currently 119.01%.

About AGNC Investment

AGNC Investment Corp. is a self-managed real estate investment trust (REIT) that primarily acquires and manages a portfolio of residential mortgage-backed securities guaranteed by U.S. government-sponsored enterprises such as Ginnie Mae, Fannie Mae and Freddie Mac. The company employs a leveraged total return strategy, borrowing against its securities to enhance income potential while using interest rate hedges to manage risk. AGNC’s investment objective is to generate attractive monthly dividends and long-term capital appreciation for its shareholders.

Founded in 2008 and headquartered in Bethesda, Maryland, AGNC focuses exclusively on U.S.