The Manufacturers Life Insurance Company decreased its position in Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) by 39.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,531 shares of the credit services provider's stock after selling 13,851 shares during the quarter. The Manufacturers Life Insurance Company owned 0.20% of Federal Agricultural Mortgage worth $4,035,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. nVerses Capital LLC acquired a new position in Federal Agricultural Mortgage in the second quarter valued at approximately $36,000. Fifth Third Bancorp grew its stake in Federal Agricultural Mortgage by 160.5% during the 2nd quarter. Fifth Third Bancorp now owns 521 shares of the credit services provider's stock worth $94,000 after buying an additional 321 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in Federal Agricultural Mortgage in the second quarter worth $108,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Federal Agricultural Mortgage in the second quarter valued at $181,000. Finally, Cetera Advisors LLC acquired a new position in shares of Federal Agricultural Mortgage during the first quarter valued at $205,000. 68.03% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, CEO Bradford T. Nordholm sold 5,073 shares of Federal Agricultural Mortgage stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $213.37, for a total transaction of $1,082,426.01. Following the transaction, the chief executive officer now directly owns 41,104 shares in the company, valued at approximately $8,770,360.48. This trade represents a 10.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mitchell A. Johnson sold 1,000 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $208.00, for a total value of $208,000.00. Following the completion of the sale, the director now directly owns 14,060 shares in the company, valued at $2,924,480. This represents a 6.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,170 shares of company stock valued at $2,282,215 over the last 90 days. 2.58% of the stock is currently owned by company insiders.
Federal Agricultural Mortgage Stock Performance
Shares of AGM stock traded up $0.97 during trading hours on Friday, reaching $213.80. The stock had a trading volume of 38,987 shares, compared to its average volume of 44,158. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a 50-day simple moving average of $196.63 and a 200-day simple moving average of $189.72. The firm has a market capitalization of $2.33 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07. Federal Agricultural Mortgage Co. has a twelve month low of $165.50 and a twelve month high of $217.60.
Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The credit services provider reported $4.10 earnings per share for the quarter, missing analysts' consensus estimates of $4.14 by ($0.04). Federal Agricultural Mortgage had a net margin of 12.59% and a return on equity of 20.14%. The business had revenue of $411.40 million for the quarter, compared to the consensus estimate of $92.15 million. During the same period last year, the firm posted $4.13 EPS. As a group, equities analysts forecast that Federal Agricultural Mortgage Co. will post 15.85 earnings per share for the current year.
Federal Agricultural Mortgage Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, December 16th. Federal Agricultural Mortgage's dividend payout ratio is currently 36.01%.
About Federal Agricultural Mortgage
(
Free Report)
Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company's Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.
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