Corebridge Financial Inc. Has $896,000 Stake in Federal Agricultural Mortgage Co. (NYSE:AGM)

Corebridge Financial Inc. trimmed its position in Federal Agricultural Mortgage Co. (NYSE:AGM) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in Federal Agricultural Mortgage by 7.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,004 shares of the credit services provider’s stock valued at $198,000 after purchasing an additional 66 shares during the last quarter. Westover Capital Advisors LLC increased its stake in Federal Agricultural Mortgage by 1.2% in the fourth quarter. Westover Capital Advisors LLC now owns 6,507 shares of the credit services provider’s stock valued at $1,282,000 after acquiring an additional 75 shares during the period. Napatree Capital LLC raised its position in Federal Agricultural Mortgage by 6.8% in the fourth quarter. Napatree Capital LLC now owns 1,423 shares of the credit services provider’s stock worth $280,000 after purchasing an additional 91 shares in the last quarter. Blue Trust Inc. acquired a new stake in Federal Agricultural Mortgage during the fourth quarter valued at approximately $25,000. Finally, Valmark Advisers Inc. boosted its holdings in Federal Agricultural Mortgage by 1.6% during the fourth quarter. Valmark Advisers Inc. now owns 8,626 shares of the credit services provider’s stock valued at $1,699,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 68.03% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their target price on shares of 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.

Federal Agricultural Mortgage Trading Down 1.9 %

NYSE AGM opened at $175.18 on Friday. The stock has a 50-day simple moving average of $196.62 and a 200 day simple moving average of $196.18. Federal Agricultural Mortgage Co. has a 12 month low of $169.17 and a 12 month high of $217.60. The company has a market capitalization of $1.91 billion, a PE ratio of 10.65, a P/E/G ratio of 1.69 and a beta of 1.11. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.58.

Federal Agricultural Mortgage (NYSE:AGM) last announced its quarterly earnings results on Friday, February 21st. The credit services provider reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.17 by $0.46. The company had revenue of $101.26 million during the quarter, compared to the consensus estimate of $92.81 million. Federal Agricultural Mortgage had a return on equity of 19.43% and a net margin of 12.75%. During the same period in the prior year, the company earned $4.10 earnings per share. Research analysts forecast that Federal Agricultural Mortgage Co. will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, March 14th. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40. Federal Agricultural Mortgage’s dividend payout ratio is presently 36.47%.

Insider Activity

In other news, Director Mitchell A. Johnson sold 2,500 shares of Federal Agricultural Mortgage stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $205.21, for a total transaction of $513,025.00. Following the completion of the sale, the director now owns 8,644 shares of the company’s stock, valued at approximately $1,773,835.24. This trade represents a 22.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aparna Ramesh sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $201.86, for a total transaction of $201,860.00. Following the transaction, the chief financial officer now owns 9,242 shares in the company, valued at approximately $1,865,590.12. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

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: 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.