PNC Financial Services Group Inc. decreased its position in shares of Chimera Investment Corp. (NYSE:CIM) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,270 shares of the company’s stock after selling 200 shares during the period. PNC Financial Services Group Inc.’s holdings in Chimera Investment Corp. were worth $114,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CIM. LPL Financial LLC raised its position in Chimera Investment Corp. by 15.5% in the first quarter. LPL Financial LLC now owns 127,084 shares of the company’s stock worth $1,713,000 after buying an additional 17,029 shares in the last quarter. National Planning Corp increased its stake in shares of Chimera Investment Corp. by 57.2% in the first quarter. National Planning Corp now owns 42,591 shares of the company’s stock worth $621,000 after buying an additional 15,500 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Chimera Investment Corp. by 552.8% in the first quarter. Renaissance Technologies LLC now owns 163,200 shares of the company’s stock worth $2,218,000 after buying an additional 138,200 shares during the last quarter. Prudential PLC acquired a new stake in shares of Chimera Investment Corp. during the first quarter worth $160,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Chimera Investment Corp. by 5.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,628,171 shares of the company’s stock worth $35,717,000 after buying an additional 132,046 shares during the last quarter. 53.61% of the stock is currently owned by hedge funds and other institutional investors.
Chimera Investment Corp. (NYSE:CIM) traded down 0.3587% during midday trading on Tuesday, hitting $14.9163. The stock had a trading volume of 256,011 shares. Chimera Investment Corp. has a 12 month low of $10.89 and a 12 month high of $16.98. The company has a market cap of $2.80 billion, a P/E ratio of 12.6839 and a beta of 0.83. The firm’s 50-day moving average price is $16.13 and its 200 day moving average price is $15.44.
Chimera Investment Corp. (NYSE:CIM) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.02. Chimera Investment Corp. had a return on equity of 13.50% and a net margin of 26.83%. The business earned $137.87 million during the quarter, compared to analysts’ expectations of $134.42 million. During the same quarter last year, the business posted $0.57 EPS. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, analysts expect that Chimera Investment Corp. will post $2.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, September 30th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 12.83%. The ex-dividend date is Wednesday, September 28th. Chimera Investment Corp.’s dividend payout ratio (DPR) is currently 160.00%.
A number of equities research analysts have weighed in on CIM shares. Nomura reiterated a “buy” rating and issued a $18.00 target price (up from $17.00) on shares of Chimera Investment Corp. in a report on Wednesday, August 10th. Deutsche Bank AG lifted their target price on Chimera Investment Corp. from $14.50 to $17.50 and gave the stock a “hold” rating in a report on Tuesday, August 9th. Keefe, Bruyette & Woods lifted their target price on Chimera Investment Corp. from $14.00 to $15.50 and gave the stock a “market perform” rating in a report on Tuesday, August 9th. Credit Suisse Group AG reiterated a “hold” rating and issued a $15.50 target price on shares of Chimera Investment Corp. in a report on Friday, September 9th. Finally, Zacks Investment Research upgraded Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $16.58.
In other Chimera Investment Corp. news, COO Choudhary Yarlagadda acquired 2,305 shares of the company’s stock in a transaction on Friday, September 9th. The stock was acquired at an average price of $16.10 per share, for a total transaction of $37,110.50. Following the acquisition, the chief operating officer now owns 104,391 shares in the company, valued at approximately $1,680,695.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.62% of the stock is owned by company insiders.
About Chimera Investment Corp.
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.
Want to see what other hedge funds are holding CIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chimera Investment Corp. (NYSE:CIM).
Receive News & Ratings for Chimera Investment Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chimera Investment Corp. and related companies with MarketBeat.com's FREE daily email newsletter.