JPMorgan Chase & Co. trimmed its position in Two Harbors Investments Corp (NYSE:TWO) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,671,595 shares of the real estate investment trust’s stock after selling 957,703 shares during the period. JPMorgan Chase & Co. owned 4.40% of Two Harbors Investments worth $76,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Linscomb & Williams Inc. purchased a new stake in Two Harbors Investments in the second quarter valued at $100,000. Meeder Asset Management Inc. purchased a new stake in Two Harbors Investments in the third quarter valued at $101,000. Clinton Group Inc. purchased a new stake in Two Harbors Investments in the second quarter valued at $104,000. Synovus Financial Corp purchased a new stake in Two Harbors Investments in the second quarter valued at $113,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Two Harbors Investments by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,974 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 718 shares during the last quarter.
Two Harbors Investments Corp (NYSE TWO) traded up $0.02 during mid-day trading on Wednesday, hitting $16.16. 2,531,400 shares of the stock traded hands, compared to its average volume of 1,676,936. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.33 and a current ratio of 1.33. Two Harbors Investments Corp has a twelve month low of $13.96 and a twelve month high of $17.29. The stock has a market cap of $2,810.00, a price-to-earnings ratio of 7.72 and a beta of 0.52.
In other news, CEO Thomas Siering bought 3,500 shares of the stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $15.30 per share, with a total value of $53,550.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian Taylor bought 9,500 shares of the stock in a transaction dated Thursday, November 16th. The shares were purchased at an average cost of $15.64 per share, for a total transaction of $148,580.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 144,144 shares of company stock worth $2,652,253. Corporate insiders own 1.16% of the company’s stock.
Several equities research analysts have commented on TWO shares. Zacks Investment Research raised shares of Two Harbors Investments from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Wednesday, October 25th. ValuEngine raised shares of Two Harbors Investments from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 2nd. Barclays upped their price target on shares of Two Harbors Investments from $10.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. Maxim Group reaffirmed a “buy” rating and issued a $17.00 price target (down from $20.50) on shares of Two Harbors Investments in a report on Thursday, November 9th. Finally, B. Riley raised shares of Two Harbors Investments from a “neutral” rating to a “buy” rating and lowered their price target for the company from $20.00 to $16.50 in a report on Friday, November 10th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $18.50.
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Two Harbors Investments Company Profile
Two Harbors Investment Corp. is a real estate investment trust. The Company is focused on investing in, financing and managing residential mortgage-backed securities (RMBS), mortgage servicing rights (MSR), commercial real estate and other financial assets (collectively known as target assets). Its investment objective is to provide attractive risk-adjusted total return to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation.
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