Maxim Group reaffirmed their buy rating on shares of Arlington Asset Investment Corp (NYSE:AI) in a research report released on Monday, July 24th, Marketbeat reports. They currently have a $14.00 price target on the financial services provider’s stock, down from their prior price target of $16.00.
“On June 16, AI announced that it was reducing its 2Q17 quarterly dividend to $0.55, from $0.625. We are lowering our 2017 dividend estimate to $2.27, from $2.50, and lowering our 2017 EPS estimate to $1.86, from $2.10.”,” the firm’s analyst commented.
Separately, Zacks Investment Research downgraded shares of Arlington Asset Investment Corp from a buy rating to a hold rating in a research note on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $15.15.
Shares of Arlington Asset Investment Corp (NYSE:AI) traded down 0.46% during trading on Monday, reaching $12.94. 413,267 shares of the company were exchanged. The company’s 50-day moving average is $13.34 and its 200 day moving average is $14.16. Arlington Asset Investment Corp has a 1-year low of $12.63 and a 1-year high of $17.13. The firm’s market capitalization is $335.79 million.
Arlington Asset Investment Corp (NYSE:AI) last announced its earnings results on Monday, July 24th. The financial services provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $18.93 million during the quarter, compared to analyst estimates of $20.28 million. Arlington Asset Investment Corp had a negative net margin of 33.84% and a negative return on equity of 10.44%. Equities research analysts expect that Arlington Asset Investment Corp will post $2.31 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were issued a $0.55 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 17.00%. Arlington Asset Investment Corp’s dividend payout ratio is currently -146.67%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Arlington Asset Investment Corp by 1.0% in the second quarter. Vanguard Group Inc. now owns 1,104,793 shares of the financial services provider’s stock worth $15,102,000 after buying an additional 11,197 shares in the last quarter. State Street Corp boosted its position in Arlington Asset Investment Corp by 9.5% in the second quarter. State Street Corp now owns 527,373 shares of the financial services provider’s stock worth $7,210,000 after buying an additional 45,825 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Arlington Asset Investment Corp by 9.5% in the first quarter. Ameriprise Financial Inc. now owns 435,716 shares of the financial services provider’s stock worth $6,156,000 after buying an additional 37,778 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Arlington Asset Investment Corp by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 277,135 shares of the financial services provider’s stock worth $3,916,000 after buying an additional 12,129 shares in the last quarter. Finally, PVG Asset Management Corp acquired a new position in shares of Arlington Asset Investment Corp during the first quarter valued at about $3,901,000. 42.37% of the stock is owned by institutional investors and hedge funds.
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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