LSV Asset Management trimmed its stake in Federal Agricultural Mortgage Corp. (NYSE:AGM) by 1.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 549,399 shares of the credit services provider’s stock after selling 6,100 shares during the period. LSV Asset Management owned about 0.05% of Federal Agricultural Mortgage worth $39,792,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Affinity Investment Advisors LLC raised its holdings in Federal Agricultural Mortgage by 15.2% in the first quarter. Affinity Investment Advisors LLC now owns 5,542 shares of the credit services provider’s stock valued at $401,000 after buying an additional 732 shares during the period. California Public Employees Retirement System raised its holdings in Federal Agricultural Mortgage by 1.7% in the first quarter. California Public Employees Retirement System now owns 45,518 shares of the credit services provider’s stock valued at $3,297,000 after buying an additional 769 shares during the period. Boston Partners raised its holdings in Federal Agricultural Mortgage by 3.2% in the first quarter. Boston Partners now owns 95,492 shares of the credit services provider’s stock valued at $6,916,000 after buying an additional 2,945 shares during the period. Convergence Investment Partners LLC purchased a new position in Federal Agricultural Mortgage in the first quarter valued at approximately $176,000. Finally, Rice Hall James & Associates LLC raised its holdings in Federal Agricultural Mortgage by 31.8% in the first quarter. Rice Hall James & Associates LLC now owns 199,329 shares of the credit services provider’s stock valued at $14,437,000 after buying an additional 48,108 shares during the period. 63.86% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Chester J. Culver sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradford T. Nordholm purchased 5,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were bought at an average cost of $69.67 per share, with a total value of $348,350.00. The disclosure for this purchase can be found here. Company insiders own 2.46% of the company’s stock.
NYSE AGM opened at $74.72 on Wednesday. Federal Agricultural Mortgage Corp. has a one year low of $55.64 and a one year high of $99.11. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market capitalization of $778.16 million, a P/E ratio of 9.30 and a beta of 1.20.
Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings results on Thursday, May 2nd. The credit services provider reported $2.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.06. Federal Agricultural Mortgage had a net margin of 19.20% and a return on equity of 17.17%. The firm had revenue of $44.29 million for the quarter.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, June 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.75%.
Separately, Compass Point upgraded shares of Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and raised their price target for the company from $83.00 to $86.00 in a report on Friday, February 22nd.
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About Federal Agricultural Mortgage
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 (LTSPC) on designated eligible mortgage loans.
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