Osaic Holdings Inc. has significantly increased its investment in AGNC Investment Corp. (NASDAQ: AGNC) by 47% during the second quarter of 2023, according to HoldingsChannel.com. The firm now holds 961,656 shares in the real estate investment trust, having acquired an additional 307,516 shares over the period. As of the latest reporting, Osaic’s stake in AGNC is valued at approximately $8.84 million.
Several other institutional investors have also made notable adjustments to their holdings in AGNC. Red Tortoise LLC raised its position by an impressive 377.4%, now owning 2,764 shares valued at $25,000 after adding 2,185 shares. Similarly, Trust Co. of Vermont’s holdings surged by 1,003%, bringing their total to 3,629 shares worth $33,000 after acquiring 3,300 additional shares. Other firms, including AlphaQuest LLC and Bogart Wealth LLC, have also entered or expanded their stakes, contributing to a robust institutional ownership of 38.28% in AGNC.
Analyst Insights and Stock Performance
Recent evaluations from equities research analysts provide further insight into AGNC’s performance. Jones Trading reiterated a “buy” rating, establishing a price target of $10.00 for AGNC shares on October 21, 2023. Analysts from Keefe, Bruyette & Woods increased their target from $10.50 to $11.00, while UBS Group raised theirs from $9.50 to $9.75. Currently, AGNC has garnered six “buy” ratings and four “hold” ratings, yielding a consensus rating of “Moderate Buy” with an average target price of $10.32.
As of the latest trading session, AGNC shares opened at $10.66. The company boasts a market capitalization of $11.44 billion, a price-to-earnings ratio of 15.91, and a beta of 1.36. The stock has fluctuated between a one-year low of $7.85 and a high of $10.74.
Quarterly Earnings and Dividend Announcement
On October 20, 2023, AGNC announced its quarterly earnings, reporting earnings per share (EPS) of $0.35, which fell short of the consensus estimate of $0.38 by $0.03. The firm generated revenue of $836 million, significantly surpassing analyst expectations of $466.39 million. AGNC recorded a net margin of 24.40% and a return on equity of 18.84%. Analysts project that AGNC will achieve an EPS of $1.61 for the current fiscal year.
AGNC also declared a monthly dividend of $0.12, to be paid on January 12, 2024. Shareholders of record by December 31, 2023 will be eligible for this payment, which translates to an annualized yield of 13.5%. The company’s current payout ratio stands at 214.93%.
In related news, AGNC’s CEO, Peter J. Federico, sold 45,798 shares on October 27, 2023, at an average price of $10.27, totaling $470,345.46. Following this transaction, he retains 1,557,401 shares valued at about $15.99 million, reflecting a 2.86% decrease in his holdings.
AGNC Investment Corp. operates as a self-managed real estate investment trust (REIT), primarily acquiring and managing residential mortgage-backed securities backed by U.S. government-sponsored enterprises. Established in 2008 and headquartered in Bethesda, Maryland, AGNC aims to provide attractive monthly dividends and long-term capital appreciation for its shareholders.
