Thrivent Financial for Lutherans Raises Stock Position in Federal Agricultural Mortgage Co. (NYSE:AGM)

Thrivent Financial for Lutherans grew its stake in Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) by 1,589.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 356,001 shares of the credit services provider's stock after purchasing an additional 334,928 shares during the period. Thrivent Financial for Lutherans owned about 3.27% of Federal Agricultural Mortgage worth $70,114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AGM. Blue Trust Inc. purchased a new stake in Federal Agricultural Mortgage during the fourth quarter worth $25,000. Point72 DIFC Ltd increased its stake in shares of Federal Agricultural Mortgage by 180.0% in the 3rd quarter. Point72 DIFC Ltd now owns 364 shares of the credit services provider's stock valued at $68,000 after purchasing an additional 234 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Federal Agricultural Mortgage in the 4th quarter worth about $100,000. Parkside Financial Bank & Trust boosted its position in Federal Agricultural Mortgage by 7.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,004 shares of the credit services provider's stock worth $198,000 after purchasing an additional 66 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in Federal Agricultural Mortgage in the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 68.03% of the company's stock.

Insider Buying and Selling

In other Federal Agricultural Mortgage news, Director Mitchell A. Johnson sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $205.21, for a total value of $513,025.00. Following the transaction, the director now directly owns 8,644 shares of the company's stock, valued at $1,773,835.24. This trade represents a 22.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aparna Ramesh sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $201.86, for a total value of $201,860.00. Following the transaction, the chief financial officer now owns 9,242 shares in the company, valued at approximately $1,865,590.12. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is owned by company insiders.

Remove Ads

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their target price on Federal Agricultural Mortgage from $205.00 to $230.00 and gave the stock a "market perform" rating in a research note on Monday, February 24th.

Federal Agricultural Mortgage Price Performance

NYSE:AGM traded down $1.36 during trading hours on Friday, reaching $191.19. 64,492 shares of the company were exchanged, compared to its average volume of 42,998. The stock's 50-day moving average is $197.67 and its 200-day moving average is $195.98. Federal Agricultural Mortgage Co. has a twelve month low of $169.17 and a twelve month high of $217.60. The firm has a market cap of $2.08 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.69 and a beta of 1.11. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.58.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The credit services provider reported $4.63 earnings per share for the quarter, topping the consensus estimate of $4.17 by $0.46. Federal Agricultural Mortgage had a net margin of 12.75% and a return on equity of 19.43%. The firm had revenue of $101.26 million during the quarter, compared to the consensus estimate of $92.81 million. During the same quarter in the prior year, the firm earned $4.10 EPS. On average, sell-side analysts anticipate that Federal Agricultural Mortgage Co. will post 17.6 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.50 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Federal Agricultural Mortgage's previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.14%. Federal Agricultural Mortgage's payout ratio is currently 36.47%.

Federal Agricultural Mortgage Profile

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.