Corebridge Financial Inc. cut its stake in shares of Federal Agricultural Mortgage Co. (NYSE:AGM – Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,547 shares of the credit services provider’s stock after selling 343 shares during the quarter. Corebridge Financial Inc.’s holdings in Federal Agricultural Mortgage were worth $896,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in AGM. Global Alpha Capital Management Ltd. increased its position in shares of Federal Agricultural Mortgage by 22.9% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 14,036 shares of the credit services provider’s stock valued at $2,764,000 after acquiring an additional 2,611 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Federal Agricultural Mortgage by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 107,494 shares of the credit services provider’s stock worth $20,145,000 after acquiring an additional 6,444 shares during the last quarter. Barclays PLC boosted its holdings in Federal Agricultural Mortgage by 181.7% in the 3rd quarter. Barclays PLC now owns 18,172 shares of the credit services provider’s stock worth $3,405,000 after buying an additional 11,721 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth $2,289,000. Finally, Principal Financial Group Inc. raised its stake in shares of Federal Agricultural Mortgage by 10.3% during the 3rd quarter. Principal Financial Group Inc. now owns 319,701 shares of the credit services provider’s stock valued at $59,911,000 after purchasing an additional 29,917 shares during the period. 68.03% of the stock is owned by institutional investors and hedge funds.
Federal Agricultural Mortgage Stock Down 1.9 %
Shares of Federal Agricultural Mortgage stock opened at $175.18 on Friday. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.69 and a beta of 1.11. The company’s 50 day moving average price is $196.62 and its 200-day moving average price is $196.18. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.49 and a current ratio of 0.49. Federal Agricultural Mortgage Co. has a 52-week low of $169.17 and a 52-week high of $217.60.
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The credit services provider reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.17 by $0.46. Federal Agricultural Mortgage had a return on equity of 19.43% and a net margin of 12.75%. The company had revenue of $101.26 million for the quarter, compared to the consensus estimate of $92.81 million. During the same quarter in the previous year, the business earned $4.10 EPS. Equities research analysts forecast that Federal Agricultural Mortgage Co. will post 17.6 EPS for the current year.
Federal Agricultural Mortgage Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.50 dividend. This is an increase from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. This represents a $6.00 dividend on an annualized basis and a yield of 3.43%. Federal Agricultural Mortgage’s dividend payout ratio is 36.47%.
Insider Transactions at Federal Agricultural Mortgage
In related news, Director Mitchell A. Johnson sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $205.21, for a total transaction of $513,025.00. Following the transaction, the director now owns 8,644 shares in the company, valued at $1,773,835.24. This represents a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aparna Ramesh sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $201.86, for a total transaction of $201,860.00. Following the sale, the chief financial officer now owns 9,242 shares of the company’s stock, valued at approximately $1,865,590.12. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods lifted their price objective on Federal Agricultural Mortgage from $205.00 to $230.00 and gave the company a “market perform” rating in a research note on Monday, February 24th.
Read Our Latest Stock Report on AGM
Federal Agricultural Mortgage Profile
Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company’s Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.
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