Prudential Financial Inc. increased its position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,760 shares of the credit services provider’s stock after acquiring an additional 3,788 shares during the quarter. Prudential Financial Inc. owned about 1.57% of Federal Agricultural Mortgage worth $12,131,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Smith Moore & CO. bought a new position in Federal Agricultural Mortgage in the third quarter valued at approximately $436,000. Affinity Investment Advisors LLC bought a new position in Federal Agricultural Mortgage in the third quarter valued at approximately $260,000. Public Employees Retirement System of Ohio raised its holdings in shares of Federal Agricultural Mortgage by 8.6% in the second quarter. Public Employees Retirement System of Ohio now owns 13,944 shares of the credit services provider’s stock valued at $902,000 after purchasing an additional 1,102 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Federal Agricultural Mortgage by 7.8% in the second quarter. Sterling Capital Management LLC now owns 21,465 shares of the credit services provider’s stock valued at $1,389,000 after purchasing an additional 1,557 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Federal Agricultural Mortgage by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,170 shares of the credit services provider’s stock valued at $464,000 after purchasing an additional 376 shares during the last quarter. 63.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on AGM shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $65.00 price objective on shares of Federal Agricultural Mortgage in a report on Friday, November 10th. TheStreet cut shares of Federal Agricultural Mortgage from a “b-” rating to a “c+” rating in a research report on Friday, August 11th.
Shares of Federal Agricultural Mortgage Corporation (NYSE:AGM) traded down $0.25 during trading on Thursday, hitting $74.90. 28,358 shares of the stock were exchanged, compared to its average volume of 55,098. Federal Agricultural Mortgage Corporation has a 52 week low of $53.78 and a 52 week high of $77.78. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $805.33, a PE ratio of 13.08 and a beta of 1.27.
Federal Agricultural Mortgage (NYSE:AGM) last issued its earnings results on Thursday, November 9th. The credit services provider reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.11. The firm had revenue of $43.86 million during the quarter. Federal Agricultural Mortgage had a return on equity of 14.81% and a net margin of 23.05%.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, December 14th. Federal Agricultural Mortgage’s dividend payout ratio is presently 19.35%.
In related news, insider Timothy L. Buzby sold 10,560 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $74.15, for a total value of $783,024.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Curtis Covington sold 575 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $74.29, for a total value of $42,716.75. The disclosure for this sale can be found here. Insiders have sold a total of 34,736 shares of company stock valued at $2,537,337 in the last three months. Insiders own 3.75% of the company’s stock.
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Federal Agricultural Mortgage Profile
Federal Agricultural Mortgage Corporation (Farmer Mac) provides a secondary market for a range of loans made to borrowers in rural America. The Company’s segments include Farm & Ranch, USDA Guarantees, Rural Utilities, Institutional Credit and Corporate. Its secondary market activities are purchasing eligible loans directly from lenders; providing advances against eligible loans by purchasing obligations secured by those loans; securitizing assets and guaranteeing the payment of principal and interest on the resulting securities that represent interests in, or obligations secured by, pools of eligible loans; and issuing long-term standby purchase commitments (LTSPCs) for eligible loans.
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