998,501 Shares in AGNC Investment Corp. $AGNC Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in AGNC Investment Corp. (NASDAQ:AGNC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 998,501 shares of the real estate investment trust’s stock, valued at approximately $10,884,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new position in AGNC Investment during the 2nd quarter valued at about $704,076,000. Norges Bank bought a new stake in AGNC Investment during the 4th quarter worth approximately $141,830,000. Equity Investment Corp purchased a new stake in shares of AGNC Investment in the second quarter worth approximately $106,123,000. Bank of New York Mellon Corp purchased a new stake in shares of AGNC Investment in the second quarter worth approximately $40,182,000. Finally, Advisors Capital Management LLC bought a new position in shares of AGNC Investment in the second quarter valued at approximately $35,421,000. Institutional investors and hedge funds own 38.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AGNC shares. Piper Sandler lifted their target price on AGNC Investment from $11.50 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Weiss Ratings raised AGNC Investment from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Wells Fargo & Company dropped their price objective on AGNC Investment from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Compass Point downgraded shares of AGNC Investment from a “buy” rating to a “neutral” rating and set a $11.50 price objective on the stock. in a report on Friday, July 17th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of AGNC Investment from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.11.

Insiders Place Their Bets

In related news, EVP Bernice Bell sold 5,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $11.00, for a total transaction of $55,000.00. Following the completion of the transaction, the executive vice president owned 406,947 shares in the company, valued at approximately $4,476,417. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

AGNC Investment Trading Down 1.6%

Shares of AGNC Investment stock opened at $10.73 on Tuesday. The business’s fifty day simple moving average is $10.89 and its 200 day simple moving average is $10.69. The firm has a market capitalization of $12.72 billion, a P/E ratio of 5.65 and a beta of 1.32. AGNC Investment Corp. has a 12 month low of $9.62 and a 12 month high of $12.19.

AGNC Investment (NASDAQ:AGNC) last announced its quarterly earnings data on Monday, July 20th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $305.00 million during the quarter, compared to the consensus estimate of $1.06 billion. AGNC Investment had a return on equity of 17.96% and a net margin of 57.94%.During the same quarter in the prior year, the company earned ($0.17) EPS. Analysts predict that AGNC Investment Corp. will post 1.6 EPS for the current fiscal year.

AGNC Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 31st will be issued a $0.12 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date of this dividend is Monday, August 31st. AGNC Investment’s payout ratio is 75.79%.

AGNC Investment Company Profile

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.