The Manufacturers Life Insurance Company Trims Stock Position in Federal Agricultural Mortgage Co. (NYSE:AGM)

The Manufacturers Life Insurance Company cut its holdings in Federal Agricultural Mortgage Co. (NYSE:AGM) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,382 shares of the credit services provider’s stock after selling 796 shares during the quarter. The Manufacturers Life Insurance Company owned 0.33% of Federal Agricultural Mortgage worth $6,398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Federal Agricultural Mortgage in the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. raised its stake in shares of Federal Agricultural Mortgage by 194.2% during the first quarter. Sunbelt Securities Inc. now owns 203 shares of the credit services provider’s stock valued at $40,000 after purchasing an additional 134 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Federal Agricultural Mortgage by 160.5% during the 2nd quarter. Fifth Third Bancorp now owns 521 shares of the credit services provider’s stock valued at $94,000 after purchasing an additional 321 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Federal Agricultural Mortgage in the 2nd quarter worth about $108,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Federal Agricultural Mortgage in the 2nd quarter worth about $181,000. 68.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Federal Agricultural Mortgage

In other news, Director Sara Louise Faivre-Davis sold 685 shares of Federal Agricultural Mortgage stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $188.93, for a total transaction of $129,417.05. Following the completion of the sale, the director now owns 4,595 shares of the company’s stock, valued at approximately $868,133.35. This trade represents a 0.00 % 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. In related news, Director Sara Louise Faivre-Davis sold 685 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $188.93, for a total value of $129,417.05. Following the sale, the director now owns 4,595 shares of the company’s stock, valued at $868,133.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen P. Mullery sold 2,472 shares of Federal Agricultural Mortgage stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $182.28, for a total value of $450,596.16. Following the completion of the sale, the executive vice president now owns 22,045 shares of the company’s stock, valued at approximately $4,018,362.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,967 shares of company stock valued at $729,487. Insiders own 2.58% of the company’s stock.

Federal Agricultural Mortgage Stock Up 2.0 %

Shares of AGM opened at $185.76 on Friday. The company has a 50-day moving average price of $187.35 and a two-hundred day moving average price of $186.02. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.68. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.65 and a beta of 1.04. Federal Agricultural Mortgage Co. has a 12 month low of $140.44 and a 12 month high of $217.60.

Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings data on Monday, August 5th. The credit services provider reported $3.63 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.46). Federal Agricultural Mortgage had a net margin of 13.28% and a return on equity of 20.88%. The company had revenue of $406.23 million during the quarter, compared to analyst estimates of $91.77 million. During the same quarter in the previous year, the business posted $3.86 EPS. Equities analysts predict that Federal Agricultural Mortgage Co. will post 15.95 EPS for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.01%. Federal Agricultural Mortgage’s payout ratio is presently 34.15%.

Wall Street Analyst Weigh In

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

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.