Arlington Asset Investment Corp (AI) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Arlington Asset Investment Corp (NYSE:AI) from a sell rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “Arlington Asset Investment Corp. is a principal investment firm that currently invests primarily in mortgage-related and other assets. “
Several other research analysts also recently commented on the company. FBR & Co reiterated a hold rating and set a $13.00 target price on shares of Arlington Asset Investment Corp in a research note on Friday, October 27th. BidaskClub upgraded Arlington Asset Investment Corp from a strong sell rating to a sell rating in a research note on Saturday, August 5th. Singular Research began coverage on Arlington Asset Investment Corp in a research note on Tuesday, August 1st. They set a buy rating and a $14.25 target price for the company. ValuEngine downgraded Arlington Asset Investment Corp from a hold rating to a sell rating in a research note on Thursday, July 27th. Finally, Maxim Group reiterated a buy rating and set a $14.00 target price (down from $16.00) on shares of Arlington Asset Investment Corp in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Arlington Asset Investment Corp presently has a consensus rating of Hold and a consensus target price of $13.75.
Shares of Arlington Asset Investment Corp (NYSE:AI) traded down $0.38 during midday trading on Thursday, hitting $11.00. The stock had a trading volume of 648,743 shares, compared to its average volume of 501,510. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.04 and a current ratio of 0.04.
Arlington Asset Investment Corp (NYSE:AI) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $14.87 million during the quarter, compared to the consensus estimate of $20.17 million. research analysts anticipate that Arlington Asset Investment Corp will post 0.72 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were issued a dividend of $0.55 per share. 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 currently -150.68%.
In other news, CFO Richard Ernst Konzmann purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average cost of $11.34 per share, with a total value of $45,360.00. Following the acquisition, the chief financial officer now owns 11,457 shares in the company, valued at approximately $129,922.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ralph S. Michael III purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average cost of $11.66 per share, with a total value of $58,300.00. Following the completion of the acquisition, the director now owns 7,325 shares in the company, valued at approximately $85,409.50. The disclosure for this purchase can be found here. Company insiders own 5.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its holdings in Arlington Asset Investment Corp by 5.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 87,524 shares of the financial services provider’s stock valued at $1,237,000 after acquiring an additional 4,788 shares in the last quarter. Icon Advisers Inc. Co. acquired a new position in Arlington Asset Investment Corp in the 2nd quarter valued at $1,471,000. BlueCrest Capital Management Ltd acquired a new position in Arlington Asset Investment Corp in the 1st quarter valued at $147,000. Geode Capital Management LLC raised its holdings in Arlington Asset Investment Corp by 14.3% in the 1st quarter. Geode Capital Management LLC now owns 185,793 shares of the financial services provider’s stock valued at $2,625,000 after acquiring an additional 23,312 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in Arlington Asset Investment Corp in the 2nd quarter valued at $970,000. 38.57% of the stock is owned by hedge funds and other institutional investors.
About Arlington Asset Investment Corp
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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