ValuEngine upgraded shares of Federal Agricultural Mortgage (NYSE:AGM) from a hold rating to a buy rating in a research report report published on Sunday morning.
Separately, Keefe, Bruyette & Woods restated a hold rating on shares of Federal Agricultural Mortgage in a research report on Thursday, September 21st.
Federal Agricultural Mortgage (NYSE:AGM) opened at $78.87 on Friday. The stock has a market capitalization of $830.60, a PE ratio of 10.60 and a beta of 1.26. Federal Agricultural Mortgage has a 12-month low of $53.78 and a 12-month high of $80.47. 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 (NYSE:AGM) last posted its earnings results on Thursday, November 9th. The credit services provider reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.11. The company 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 business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.44 annualized dividend and a dividend yield of 1.83%. Federal Agricultural Mortgage’s payout ratio is currently 19.35%.
In related news, insider Timothy L. Buzby sold 937 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $74.87, for a total value of $70,153.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis L. Brack sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $72.13, for a total value of $108,195.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,292 shares of company stock valued at $526,571 over the last 90 days. Corporate insiders own 3.75% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Argent Capital Management LLC grew its position in shares of Federal Agricultural Mortgage by 17.9% in the 3rd quarter. Argent Capital Management LLC now owns 48,301 shares of the credit services provider’s stock valued at $3,513,000 after purchasing an additional 7,330 shares during the period. California Public Employees Retirement System grew its position in shares of Federal Agricultural Mortgage by 4.0% in the 3rd quarter. California Public Employees Retirement System now owns 56,287 shares of the credit services provider’s stock valued at $4,094,000 after purchasing an additional 2,187 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Federal Agricultural Mortgage in the 3rd quarter valued at approximately $240,000. JPMorgan Chase & Co. grew its position in shares of Federal Agricultural Mortgage by 13.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 58,820 shares of the credit services provider’s stock valued at $4,379,000 after purchasing an additional 6,888 shares during the period. Finally, Nordea Investment Management AB grew its position 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 purchasing an additional 3,200 shares during the period. Institutional investors and hedge funds own 63.94% of the company’s stock.
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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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