State Treasurer State of Michigan raised its stake in shares of AGNC Investment Corp. (NASDAQ:AGNC) by 31.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,541,100 shares of the real estate investment trust’s stock after buying an additional 4,435,300 shares during the quarter. AGNC Investment comprises approximately 2.7% of State Treasurer State of Michigan’s holdings, making the stock its 3rd largest position. State Treasurer State of Michigan owned about 4.27% of AGNC Investment worth $344,679,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew its holdings in shares of AGNC Investment by 6,645.0% in the second quarter. CIBC Private Wealth Group LLC now owns 8,094 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 7,974 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of AGNC Investment by 44.5% in the first quarter. Victory Capital Management Inc. now owns 9,491 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 2,924 shares in the last quarter. Signaturefd LLC purchased a new position in shares of AGNC Investment in the first quarter valued at $185,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of AGNC Investment in the second quarter valued at $192,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of AGNC Investment in the first quarter valued at $195,000. 55.65% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of AGNC Investment from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 19th. Maxim Group reissued a “buy” rating and issued a $19.25 target price (down from $21.25) on shares of AGNC Investment in a report on Thursday, April 26th. JPMorgan Chase & Co. raised their target price on shares of AGNC Investment from $18.00 to $18.50 and gave the company a “$19.11” rating in a report on Monday, July 23rd. ValuEngine lowered shares of AGNC Investment from a “hold” rating to a “sell” rating in a report on Friday, June 1st. Finally, Barclays cut their target price on shares of AGNC Investment from $20.00 to $19.00 and set a “hold” rating for the company in a report on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $19.46.
AGNC Investment (NASDAQ:AGNC) last issued its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $177.00 million during the quarter, compared to the consensus estimate of $274.15 million. AGNC Investment had a return on equity of 11.69% and a net margin of 134.01%. AGNC Investment’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. sell-side analysts anticipate that AGNC Investment Corp. will post 2.44 earnings per share for the current fiscal year.
The business also recently declared a aug 18 dividend, which will be paid on Tuesday, September 11th. Investors of record on Friday, August 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 30th. AGNC Investment’s dividend payout ratio is presently 87.80%.
AGNC Investment Company 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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