Arlington Asset Investment Corp (NYSE:AI) Stock Rating Reaffirmed by Maxim Group
Arlington Asset Investment Corp (NYSE:AI)‘s stock had its “buy” rating reiterated by equities research analysts at Maxim Group in a research report issued to clients and investors on Monday. They presently have a $16.00 price objective on the financial services provider’s stock. Maxim Group’s target price would suggest a potential upside of 17.82% from the company’s current price.
The analysts wrote, “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.””
Separately, Zacks Investment Research downgraded Arlington Asset Investment Corp from a “hold” rating to a “sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $15.88.
Shares of Arlington Asset Investment Corp (NYSE:AI) traded down 1.45% during midday trading on Monday, hitting $13.58. The stock had a trading volume of 381,124 shares. The firm’s market capitalization is $320.87 million. The firm’s 50-day moving average price is $14.22 and its 200-day moving average price is $14.46. Arlington Asset Investment Corp has a one year low of $13.37 and a one year high of $17.13.
Arlington Asset Investment Corp (NYSE:AI) last posted its earnings results on Tuesday, April 25th. The financial services provider reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The firm had revenue of $20.28 million for the quarter, compared to analyst estimates of $19.54 million. Arlington Asset Investment Corp had a negative return on equity of 1.78% and a negative net margin of 4.51%. On average, equities analysts predict that Arlington Asset Investment Corp will post $2.37 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new position in shares of Arlington Asset Investment Corp during the first quarter worth approximately $147,000. Karp Capital Management Corp acquired a new stake in shares of Arlington Asset Investment Corp during the first quarter worth $149,000. SG Americas Securities LLC acquired a new stake in shares of Arlington Asset Investment Corp during the first quarter worth $179,000. KCG Holdings Inc. acquired a new stake in shares of Arlington Asset Investment Corp during the first quarter worth $196,000. Finally, American International Group Inc. increased its stake in shares of Arlington Asset Investment Corp by 7.2% in the first quarter. American International Group Inc. now owns 13,906 shares of the financial services provider’s stock worth $196,000 after buying an additional 937 shares during the last quarter. Institutional investors own 42.66% of the company’s stock.
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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