Harbor Capital Advisors Inc. Purchases 22,528 Shares of Ellington Financial Inc. (NYSE:EFC)

Harbor Capital Advisors Inc. boosted its position in Ellington Financial Inc. (NYSE:EFC) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 749,307 shares of the financial services provider’s stock after buying an additional 22,528 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Ellington Financial were worth $9,082,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC bought a new position in shares of Ellington Financial in the 3rd quarter valued at $62,000. Prospera Private Wealth LLC bought a new position in Ellington Financial in the third quarter valued at about $68,000. Members Trust Co acquired a new position in Ellington Financial during the third quarter worth about $129,000. Atom Investors LP bought a new position in shares of Ellington Financial in the third quarter worth about $130,000. Finally, Creative Planning acquired a new stake in shares of Ellington Financial in the 3rd quarter valued at approximately $141,000. 55.62% of the stock is currently owned by institutional investors and hedge funds.

Ellington Financial Trading Down 0.4 %

Shares of EFC stock traded down $0.05 during mid-day trading on Friday, reaching $12.09. 441,620 shares of the stock traded hands, compared to its average volume of 804,629. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 9.23 and a beta of 1.97. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. The stock’s fifty day simple moving average is $12.25 and its two-hundred day simple moving average is $12.59. Ellington Financial Inc. has a 1-year low of $10.88 and a 1-year high of $13.46.

Ellington Financial (NYSE:EFC) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The business had revenue of $33.63 million for the quarter, compared to the consensus estimate of $37.95 million. During the same period last year, the company earned $0.33 EPS. On average, research analysts anticipate that Ellington Financial Inc. will post 1.37 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, January 31st will be given a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a yield of 12.90%. The ex-dividend date of this dividend is Friday, January 31st. Ellington Financial’s dividend payout ratio is currently 119.08%.

Insiders Place Their Bets

In other news, CIO Michael W. Vranos sold 14,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $12.48, for a total transaction of $174,720.00. Following the completion of the transaction, the executive now directly owns 168,359 shares in the company, valued at $2,101,120.32. This trade represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley raised shares of Ellington Financial to a “strong-buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Ellington Financial has an average rating of “Moderate Buy” and a consensus price target of $13.58.

Ellington Financial Profile

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.