Zacks Investment Research upgraded shares of Arlington Asset Investment Corp (NYSE:AI) from a sell rating to a hold rating in a report published on Thursday.
According to Zacks, “Arlington Asset Investment Corp. is a principal investment firm that currently invests primarily in mortgage-related and other assets. “
Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Arlington Asset Investment Corp from a strong sell rating to a sell rating in a research note on Saturday, August 5th. ValuEngine downgraded Arlington Asset Investment Corp from a hold rating to a sell rating in a research note on Thursday, July 27th. Singular Research began coverage on Arlington Asset Investment Corp in a research note on Tuesday, August 1st. They issued a buy rating and a $14.25 target price on the stock. Maxim Group restated a buy rating and issued a $14.00 target price (down previously from $16.00) on shares of Arlington Asset Investment Corp in a research note on Monday, July 24th. Finally, FBR & Co restated a hold rating and issued a $13.00 target price on shares of Arlington Asset Investment Corp in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $13.75.
Arlington Asset Investment Corp (NYSE:AI) traded down $0.18 during mid-day trading on Thursday, hitting $11.00. 648,743 shares of the company were exchanged, compared to its average volume of 501,510. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.21.
Arlington Asset Investment Corp (NYSE:AI) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Arlington Asset Investment Corp had a negative return on equity of 8.45% and a negative net margin of 27.20%. The firm had revenue of $14.87 million for the quarter, compared to the consensus estimate of $20.17 million. analysts predict that Arlington Asset Investment Corp will post 0.72 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.20 annualized dividend and a yield of 20.00%. Arlington Asset Investment Corp’s payout ratio is -150.68%.
In other news, CFO Richard Ernst Konzmann acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were acquired at an average price of $11.34 per share, for a total transaction of $45,360.00. Following the completion of the purchase, the chief financial officer now owns 11,457 shares in the company, valued at $129,922.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ralph S. Michael III acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was purchased at an average price of $11.66 per share, for a total transaction of $58,300.00. Following the purchase, the director now owns 7,325 shares of the company’s stock, valued at approximately $85,409.50. The disclosure for this purchase can be found here. 5.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of AI. Advisor Group Inc. lifted its stake in Arlington Asset Investment Corp by 39.4% in the second quarter. Advisor Group Inc. now owns 8,764 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 2,475 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Arlington Asset Investment Corp by 149.6% in the second quarter. PNC Financial Services Group Inc. now owns 10,534 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 6,314 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in Arlington Asset Investment Corp in the first quarter valued at approximately $147,000. Karp Capital Management Corp purchased a new position in Arlington Asset Investment Corp in the first quarter valued at approximately $149,000. Finally, SG Americas Securities LLC purchased a new position in Arlington Asset Investment Corp in the first quarter valued at approximately $179,000. Institutional investors and hedge funds own 38.57% of the company’s stock.
Arlington Asset Investment Corp Company Profile
Arlington Asset Investment Corp. is an investment company. The Company focuses on acquiring and holding a levered portfolio of residential mortgage-backed securities (MBS), consisting of agency MBS and private-label MBS. Agency MBS include residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by a United States Government agency or government-sponsored enterprise (GSE), such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
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