Federal Agricultural Mortgage Corporation (NYSE:AGM) SVP John Curtis Covington sold 575 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $74.29, for a total transaction of $42,716.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Federal Agricultural Mortgage Corporation (NYSE AGM) traded up $1.08 during mid-day trading on Thursday, reaching $72.68. 52,323 shares of the company’s stock were exchanged, compared to its average volume of 54,936. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.80. Federal Agricultural Mortgage Corporation has a 12 month low of $53.78 and a 12 month high of $77.78. The firm has a market capitalization of $755.75, a PE ratio of 12.27 and a beta of 1.27.
Federal Agricultural Mortgage (NYSE:AGM) last released its quarterly earnings data on Thursday, November 9th. The credit services provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. Federal Agricultural Mortgage had a net margin of 23.05% and a return on equity of 14.81%. The company had revenue of $43.86 million for the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.98%. Federal Agricultural Mortgage’s payout ratio is currently 19.35%.
Separately, Keefe, Bruyette & Woods reissued a “hold” rating on shares of Federal Agricultural Mortgage in a report on Thursday, September 21st.
Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in shares of Federal Agricultural Mortgage by 31.4% in the 2nd quarter. Renaissance Technologies LLC now owns 242,500 shares of the credit services provider’s stock valued at $15,690,000 after acquiring an additional 57,900 shares during the period. State Street Corp increased its holdings in shares of Federal Agricultural Mortgage by 5.3% in the 2nd quarter. State Street Corp now owns 190,318 shares of the credit services provider’s stock valued at $12,309,000 after acquiring an additional 9,640 shares during the period. ClariVest Asset Management LLC increased its holdings in shares of Federal Agricultural Mortgage by 3.0% in the 3rd quarter. ClariVest Asset Management LLC now owns 177,280 shares of the credit services provider’s stock valued at $12,895,000 after acquiring an additional 5,199 shares during the period. Prudential Financial Inc. increased its holdings in shares of Federal Agricultural Mortgage by 2.3% in the 3rd quarter. Prudential Financial Inc. now owns 166,760 shares of the credit services provider’s stock valued at $12,131,000 after acquiring an additional 3,788 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Federal Agricultural Mortgage by 2.8% in the 3rd quarter. Nordea Investment Management AB now owns 115,600 shares of the credit services provider’s stock valued at $8,409,000 after acquiring an additional 3,200 shares during the period. 63.98% of the stock is currently owned by institutional investors.
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About Federal Agricultural Mortgage
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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