Norges Bank Purchases New Position in AGNC Investment Corp. $AGNC

Norges Bank acquired a new position in shares of AGNC Investment Corp. (NASDAQ:AGNC) during the second quarter, HoldingsChannel reports. The institutional investor acquired 11,949,333 shares of the real estate investment trust’s stock, valued at approximately $109,814,000.

Several other large investors have also modified their holdings of AGNC. Red Tortoise LLC lifted its position in AGNC Investment by 377.4% in the second quarter. Red Tortoise LLC now owns 2,764 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 2,185 shares during the last quarter. Trust Co. of Vermont grew its stake in AGNC Investment by 1,003.0% during the 2nd quarter. Trust Co. of Vermont now owns 3,629 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 3,300 shares during the last quarter. AlphaQuest LLC acquired a new position in AGNC Investment during the first quarter worth approximately $34,000. Bogart Wealth LLC lifted its stake in AGNC Investment by 78.0% in the second quarter. Bogart Wealth LLC now owns 3,650 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 1,600 shares during the last quarter. Finally, Huntington National Bank increased its holdings in shares of AGNC Investment by 32.2% in the 2nd quarter. Huntington National Bank now owns 4,918 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,199 shares during the period. Institutional investors and hedge funds own 38.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AGNC. Royal Bank Of Canada increased their price target on shares of AGNC Investment from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price target on AGNC Investment from $9.50 to $10.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Piper Sandler boosted their price target on AGNC Investment from $10.00 to $10.50 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. UBS Group upped their price target on AGNC Investment from $9.50 to $9.75 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Finally, Jones Trading reissued a “buy” rating and issued a $10.00 price objective on shares of AGNC Investment in a research note on Tuesday, October 21st. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.18.

Insider Buying and Selling at AGNC Investment

In other news, CEO Peter J. Federico sold 45,798 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $10.27, for a total value of $470,345.46. Following the sale, the chief executive officer directly owned 1,557,401 shares in the company, valued at $15,994,508.27. This represents a 2.86% 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. 0.42% of the stock is currently owned by company insiders.

AGNC Investment Price Performance

Shares of NASDAQ:AGNC opened at $10.46 on Thursday. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 15.61 and a beta of 1.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.31 and a quick ratio of 0.31. The business’s 50 day simple moving average is $10.13 and its 200-day simple moving average is $9.72. AGNC Investment Corp. has a 12 month low of $7.85 and a 12 month high of $10.64.

AGNC Investment (NASDAQ:AGNC) last announced its quarterly earnings results on Monday, October 20th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The firm had revenue of $836.00 million during the quarter, compared to analysts’ expectations of $466.39 million. AGNC Investment had a net margin of 24.40% and a return on equity of 18.84%. During the same quarter in the prior year, the business earned $0.43 EPS. As a group, equities analysts forecast that AGNC Investment Corp. will post 1.61 earnings per share for the current fiscal year.

AGNC Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Friday, November 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a c) annualized dividend and a yield of 13.8%. AGNC Investment’s dividend payout ratio (DPR) is presently 214.93%.

About AGNC Investment

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).