The Vanguard Group, Inc. recently announced the acquisition of new stake in AGNC Investment Corp. (NASDAQ:AGNC). The institutional investor has increased its shareholding in the Real Estate company by 2.58% to 55.86 million shares with purchase of 1.4 million shares. This fresh investment now brings its stake to 9.22% valued currently at $553.61 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.4 million to 15.34 million shares. And Geode Capital Management LLC has lifted its position by 3.97% or 0.33 million shares – to 8.77 million shares.
With over 19.41 million AGNC Investment Corp. (AGNC) shares trading Monday and a closing price of $10.17 on the day, the dollar volume was approximately $197.36 million. The shares have shown a positive half year performance of 4.41% and its price on 09/18/23 gained nearly 0.99%. Currently, there are 606.08M common shares owned by the public and among those 602.79M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for AGNC have a consensus price objective of $10.75. The analysts have set the share’s price value over the next 12 months at a high of $11.50 and a low of $10.00. The average price target is 3.42% above its recent price level and a downside to the estimated low will see the stock lose -1.7% over that period. But an upside of 11.57% will see the stock hit the forecast high price target while median target price for the stock is $11.00.
Insiders at the company have transacted a total of 37 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 832,830 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 273,182 shares.
The top 3 mutual fund holders in AGNC Investment Corp. are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard Small Cap Value Index Fu. Vanguard Total Stock Market ETF owns 18.86 million shares of the company’s stock, all valued at over $186.89 million. The company sold 649.0 shares recently to bring their total holdings to about 3.11% of the shares outstanding. Vanguard Small Cap Index Fund bought 72788.0 shares to see its total holdings expand to 15.52 million shares valued at over $153.81 million and representing 2.56% of the shares outstanding. Vanguard Small Cap Value Index Fu sold 20378.0 shares to bring its total holdings to over 10.72 million shares at a value of $106.22 million. Vanguard Small Cap Value Index Fu now owns shares totaling to 1.77% of the shares outstanding.
Shares of AGNC Investment Corp. (NASDAQ: AGNC) opened at $10.17, up $0.1 from a prior closing price of $10.07. However, the script later moved the day high at 10.27, up 0.99%. The company’s stock has a 5-day price change of 3.46% and -0.39% over the past three months. AGNC shares are trading -1.74% year to date (YTD), with the 12-month market performance down to -9.12% lower. It has a 12-month low price of $7.30 and touched a high of $12.25 over the same period. AGNC has an average intraday trading volume of 10.58 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.84%, 2.34%, and -0.14% respectively.
Institutional ownership of AGNC Investment Corp. (NASDAQ: AGNC) shares accounts for 43.50% of the company’s 606.08M shares outstanding. Mutual fund holders own 19.10%, while other institutional holders and individual stakeholders account for 22.62% and 0.91% respectively.
It has a market capitalization of $6.18B and a beta (3y monthly) value of 1.22. The earnings-per-share (ttm) stands at -$0.26. The company has a debt-to-equity ratio at 6.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.51% over the week and 1.62% over the month.
Analysts forecast that AGNC Investment Corp. (AGNC) will achieve an EPS of $0.62 for the current quarter, $0.56 for the next quarter and $2.14 for 2024. The lowest estimate earnings-per-share for the quarter is $0.5 while analysts give the company a high EPS estimate of $0.76. Comparatively, EPS for the current quarter was $0.84 a year ago. Earnings per share for the fiscal year are expected to decrease by -296.90%, and -16.20% over the next financial year. EPS should grow at an annualized rate of -1.81% over the next five years, compared to -26.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate AGNC Investment Corp. (AGNC) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 4 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AGNC, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on Sep-19-23, with the firm’s price target at $10.50-$11.50.
