Bank of New York Mellon Corp lowered its stake in shares of Federal Agricultural Mortgage Co. (NYSE:AGM) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,088 shares of the credit services provider’s stock after selling 3,746 shares during the quarter. Bank of New York Mellon Corp’s holdings in Federal Agricultural Mortgage were worth $5,328,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Argent Capital Management LLC grew its holdings in Federal Agricultural Mortgage by 17.9% during the 3rd quarter. Argent Capital Management LLC now owns 48,301 shares of the credit services provider’s stock worth $3,513,000 after acquiring an additional 7,330 shares during the last quarter. Macquarie Group Ltd. bought a new stake in Federal Agricultural Mortgage during the 3rd quarter worth about $1,109,000. Schwab Charles Investment Management Inc. grew its holdings in Federal Agricultural Mortgage by 2.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 94,605 shares of the credit services provider’s stock worth $7,402,000 after acquiring an additional 2,576 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Federal Agricultural Mortgage by 52.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 69,790 shares of the credit services provider’s stock valued at $5,075,000 after purchasing an additional 23,900 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Federal Agricultural Mortgage by 9.5% in the 3rd quarter. New York State Common Retirement Fund now owns 16,815 shares of the credit services provider’s stock valued at $1,223,000 after purchasing an additional 1,464 shares during the last quarter. 64.42% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on AGM shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $86.00 target price on shares of Federal Agricultural Mortgage in a research note on Friday, December 22nd. ValuEngine raised shares of Federal Agricultural Mortgage from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Sidoti raised shares of Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $93.50.
Shares of NYSE AGM opened at $86.56 on Friday. The stock has a market capitalization of $917.75, a PE ratio of 14.06 and a beta of 1.17. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.37 and a current ratio of 0.37. Federal Agricultural Mortgage Co. has a 1 year low of $53.78 and a 1 year high of $92.57.
Federal Agricultural Mortgage (NYSE:AGM) last issued its earnings results on Thursday, March 8th. The credit services provider reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.14. The company had revenue of $43.96 million for the quarter. Federal Agricultural Mortgage had a net margin of 20.21% and a return on equity of 15.12%.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 19th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Friday, March 16th. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $0.36.
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Federal Agricultural Mortgage Company Profile
Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit. The Farm & Ranch segment purchases and retains eligible mortgage loans that are secured by first liens on agricultural real estate; securitizes eligible mortgage loans, and guarantees the timely payment of principal and interest on securities representing interests in or obligations secured by pools of mortgage loans; and issues long-term standby purchase commitments on designated eligible mortgage loans.
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