Vestcor Inc Makes New $525,000 Investment in Federal Agricultural Mortgage Co. (NYSE:AGM)

Vestcor Inc bought a new position in shares of Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,800 shares of the credit services provider's stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in Federal Agricultural Mortgage during the 2nd quarter worth $36,000. Point72 DIFC Ltd raised its holdings in Federal Agricultural Mortgage by 180.0% during the third quarter. Point72 DIFC Ltd now owns 364 shares of the credit services provider's stock worth $68,000 after purchasing an additional 234 shares in the last quarter. Fifth Third Bancorp lifted its position in Federal Agricultural Mortgage by 160.5% in the second quarter. Fifth Third Bancorp now owns 521 shares of the credit services provider's stock valued at $94,000 after purchasing an additional 321 shares during the period. Ridgewood Investments LLC purchased a new stake in Federal Agricultural Mortgage in the 2nd quarter valued at approximately $108,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Federal Agricultural Mortgage during the 2nd quarter worth approximately $181,000. Hedge funds and other institutional investors own 68.03% of the company's stock.

Federal Agricultural Mortgage Price Performance

Shares of AGM traded down $1.15 during mid-day trading on Friday, hitting $210.23. The company's stock had a trading volume of 24,544 shares, compared to its average volume of 53,121. 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 Co. has a 1-year low of $169.17 and a 1-year high of $217.60. The firm has a market capitalization of $2.29 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.95 and a beta of 1.07. The firm has a 50-day simple moving average of $199.45 and a 200 day simple moving average of $191.08.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last released its earnings results on Monday, November 4th. The credit services provider reported $4.10 EPS 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 during the quarter, compared to analyst estimates of $92.15 million. During the same period last year, the business posted $4.13 EPS. Analysts predict that Federal Agricultural Mortgage Co. will post 15.85 EPS for the current fiscal 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 issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Monday, December 16th. Federal Agricultural Mortgage's dividend payout ratio is currently 36.01%.

Insiders Place Their Bets

In other news, CEO Bradford T. Nordholm sold 5,073 shares of the company's 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 completion of the sale, the chief executive officer now directly owns 41,104 shares in the company, valued at $8,770,360.48. This represents a 10.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mitchell A. Johnson sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $204.69, for a total value of $307,035.00. Following the sale, the director now owns 11,060 shares of the company's stock, valued at approximately $2,263,871.40. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,573 shares of company stock worth $1,808,561. 2.58% of the stock is owned by company insiders.

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.