Eagle Asset Management Inc. Sells 12,541 Shares of Federal Agricultural Mortgage Co. (NYSE:AGM)

Eagle Asset Management Inc. lessened its holdings in Federal Agricultural Mortgage Co. (NYSE:AGM) by 16.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 63,599 shares of the credit services provider’s stock after selling 12,541 shares during the quarter. Eagle Asset Management Inc.’s holdings in Federal Agricultural Mortgage were worth $13,211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in Federal Agricultural Mortgage during the 2nd quarter valued at about $36,000. Fifth Third Bancorp raised its stake in shares of Federal Agricultural Mortgage by 160.5% in the second quarter. Fifth Third Bancorp now owns 521 shares of the credit services provider’s stock valued at $94,000 after acquiring an additional 321 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of Federal Agricultural Mortgage in the 2nd quarter worth approximately $108,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Federal Agricultural Mortgage in the 2nd quarter valued at $181,000. Finally, Cetera Advisors LLC acquired a new position in Federal Agricultural Mortgage in the first quarter worth $205,000. Institutional investors own 68.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $215.00 price target on shares of Federal Agricultural Mortgage in a research report on Tuesday, August 6th.

Federal Agricultural Mortgage Stock Performance

Shares of Federal Agricultural Mortgage stock opened at $205.09 on Friday. The firm has a 50 day simple moving average of $191.02 and a 200 day simple moving average of $187.51. Federal Agricultural Mortgage Co. has a fifty-two week low of $161.72 and a fifty-two week high of $217.60. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market cap of $2.23 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.84 and a beta of 1.04.

Federal Agricultural Mortgage (NYSE:AGM) last released its earnings results on Monday, November 4th. The credit services provider reported $4.10 earnings per share for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.04). The firm had revenue of $411.40 million for the quarter, compared to the consensus estimate of $92.15 million. Federal Agricultural Mortgage had a return on equity of 20.14% and a net margin of 12.59%. During the same quarter in the previous year, the firm earned $4.13 EPS. Sell-side analysts predict that Federal Agricultural Mortgage Co. will post 15.85 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Monday, December 16th. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is presently 36.01%.

Insider Transactions at Federal Agricultural Mortgage

In other news, Director Mitchell A. Johnson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $208.00, for a total transaction of $208,000.00. Following the sale, the director now owns 14,060 shares of the company’s stock, valued at $2,924,480. This trade represents a 6.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sara Louise Faivre-Davis sold 685 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $188.93, for a total value of $129,417.05. Following the completion of the sale, the director now owns 4,595 shares in the company, valued at approximately $868,133.35. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,467 shares of company stock worth $1,455,622 in the last quarter. 2.58% of the stock is owned by company insiders.

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.