Corebridge Financial Inc. Buys 41,804 Shares of Annaly Capital Management, Inc. (NYSE:NLY)

Corebridge Financial Inc. raised its stake in Annaly Capital Management, Inc. (NYSE:NLY) by 7.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 634,275 shares of the real estate investment trust’s stock after acquiring an additional 41,804 shares during the quarter. Corebridge Financial Inc.’s holdings in Annaly Capital Management were worth $11,607,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Annaly Capital Management by 12.0% in the 4th quarter. Vanguard Group Inc. now owns 54,721,696 shares of the real estate investment trust’s stock valued at $1,001,407,000 after purchasing an additional 5,859,104 shares in the last quarter. KBC Group NV lifted its holdings in Annaly Capital Management by 238.9% during the 4th quarter. KBC Group NV now owns 5,198,020 shares of the real estate investment trust’s stock valued at $95,124,000 after purchasing an additional 3,664,098 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Annaly Capital Management by 531.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,981,081 shares of the real estate investment trust’s stock valued at $79,900,000 after buying an additional 3,350,435 shares in the last quarter. PL Capital Advisors LLC grew its stake in Annaly Capital Management by 1,730.0% during the fourth quarter. PL Capital Advisors LLC now owns 2,792,635 shares of the real estate investment trust’s stock worth $51,105,000 after buying an additional 2,640,032 shares during the last quarter. Finally, ORG Wealth Partners LLC increased its holdings in shares of Annaly Capital Management by 5,113.5% during the fourth quarter. ORG Wealth Partners LLC now owns 788,336 shares of the real estate investment trust’s stock worth $14,427,000 after buying an additional 773,215 shares in the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.

Annaly Capital Management Trading Down 1.0 %

Shares of NYSE:NLY opened at $21.39 on Wednesday. The stock has a market capitalization of $12.37 billion, a P/E ratio of 13.45, a P/E/G ratio of 4.89 and a beta of 1.53. Annaly Capital Management, Inc. has a 1-year low of $17.67 and a 1-year high of $22.11. The business has a 50-day moving average price of $20.88 and a two-hundred day moving average price of $20.04.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results on Wednesday, January 29th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. Annaly Capital Management had a net margin of 20.70% and a return on equity of 14.95%. As a group, equities analysts predict that Annaly Capital Management, Inc. will post 2.81 EPS for the current year.

Annaly Capital Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, March 31st. This represents a $2.80 dividend on an annualized basis and a yield of 13.09%. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.65. Annaly Capital Management’s dividend payout ratio (DPR) is 176.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays started coverage on Annaly Capital Management in a report on Monday, January 6th. They issued an “equal weight” rating and a $19.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Annaly Capital Management from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price target on shares of Annaly Capital Management in a research report on Monday, February 10th. Finally, JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.44.

About Annaly Capital Management

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.