Commonwealth Equity Services LLC Reduces Holdings in Federal Agricultural Mortgage Co. (NYSE:AGM)

Commonwealth Equity Services LLC lowered its position in Federal Agricultural Mortgage Co. (NYSE:AGM) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,177 shares of the credit services provider’s stock after selling 323 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Federal Agricultural Mortgage were worth $575,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AGM. Captrust Financial Advisors purchased a new position in Federal Agricultural Mortgage during the 1st quarter valued at $24,137,000. Boston Partners boosted its stake in shares of Federal Agricultural Mortgage by 8.1% during the first quarter. Boston Partners now owns 486,964 shares of the credit services provider’s stock valued at $95,435,000 after purchasing an additional 36,560 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Federal Agricultural Mortgage by 63.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 46,225 shares of the credit services provider’s stock worth $9,101,000 after buying an additional 17,870 shares during the period. AdvisorShares Investments LLC bought a new stake in Federal Agricultural Mortgage during the 4th quarter valued at about $3,414,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Federal Agricultural Mortgage in the 1st quarter valued at about $2,141,000. Institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Price Performance

Shares of AGM stock opened at $183.19 on Friday. Federal Agricultural Mortgage Co. has a twelve month low of $140.44 and a twelve month high of $217.60. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.68. The stock has a fifty day simple moving average of $193.15 and a two-hundred day simple moving average of $186.40. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.61 and a beta of 1.04.

Federal Agricultural Mortgage (NYSE:AGM) last released its quarterly earnings data on Monday, August 5th. The credit services provider reported $3.63 earnings per share for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.46). Federal Agricultural Mortgage had a return on equity of 20.88% and a net margin of 13.28%. The business had revenue of $406.23 million during the quarter, compared to analysts’ expectations of $91.77 million. During the same period last year, the company earned $3.86 earnings per share. On average, analysts predict that Federal Agricultural Mortgage Co. will post 16.19 EPS for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.40 per share. The ex-dividend date is Monday, September 16th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.06%. Federal Agricultural Mortgage’s dividend payout ratio is presently 34.15%.

Insider Activity

In other Federal Agricultural Mortgage news, EVP Stephen P. Mullery sold 2,472 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $182.28, for a total transaction of $450,596.16. Following the completion of the sale, the executive vice president now owns 22,045 shares in the company, valued at $4,018,362.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Sara Louise Faivre-Davis sold 685 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $184.55, for a total value of $126,416.75. Following the sale, the director now directly owns 3,225 shares in the company, valued at approximately $595,173.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen P. Mullery sold 2,472 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $182.28, for a total transaction of $450,596.16. Following the transaction, the executive vice president now owns 22,045 shares of the company’s stock, valued at approximately $4,018,362.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,967 shares of company stock worth $729,487. Corporate insiders own 2.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.