Enstar Group LTD Increases Holdings in Eagle Point Income Company Inc. $EIC

Enstar Group LTD boosted its stake in shares of Eagle Point Income Company Inc. (NYSE:EIC) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,819,656 shares of the company’s stock after purchasing an additional 55,076 shares during the period. Eagle Point Income comprises about 19.2% of Enstar Group LTD’s investment portfolio, making the stock its 2nd biggest position. Enstar Group LTD’s holdings in Eagle Point Income were worth $52,215,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AdvisorNet Financial Inc raised its stake in shares of Eagle Point Income by 97.4% in the second quarter. AdvisorNet Financial Inc now owns 3,322 shares of the company’s stock worth $45,000 after buying an additional 1,639 shares during the period. Friedenthal Financial purchased a new stake in Eagle Point Income in the 2nd quarter worth approximately $79,000. Atria Wealth Solutions Inc. bought a new stake in Eagle Point Income during the 1st quarter worth approximately $170,000. Cetera Investment Advisers bought a new stake in Eagle Point Income during the 1st quarter worth approximately $182,000. Finally, Thomas J. Herzfeld Advisors Inc. purchased a new position in Eagle Point Income during the second quarter valued at approximately $325,000.

Eagle Point Income Trading Down 1.1%

Eagle Point Income stock opened at $10.98 on Friday. Eagle Point Income Company Inc. has a 1 year low of $10.81 and a 1 year high of $16.39. The firm’s 50 day moving average price is $12.00 and its 200-day moving average price is $12.85.

Eagle Point Income (NYSE:EIC) last issued its earnings results on Thursday, November 13th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03.

Eagle Point Income Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, March 11th. This represents a c) dividend on an annualized basis and a dividend yield of 12.0%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. B. Riley reduced their price objective on shares of Eagle Point Income from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Zacks Research lowered Eagle Point Income from a “hold” rating to a “strong sell” rating in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.