Millennium Management LLC Has $11.32 Million Stock Holdings in Federal Agricultural Mortgage Co. (NYSE:AGM)

Millennium Management LLC lowered its stake in shares of Federal Agricultural Mortgage Co. (NYSE:AGM) by 31.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 62,619 shares of the credit services provider’s stock after selling 28,497 shares during the period. Millennium Management LLC owned approximately 0.58% of Federal Agricultural Mortgage worth $11,323,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Boston Partners boosted its stake in Federal Agricultural Mortgage by 8.1% during the 1st 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 last quarter. American Century Companies Inc. boosted its stake in Federal Agricultural Mortgage by 25.7% during the 2nd quarter. American Century Companies Inc. now owns 178,008 shares of the credit services provider’s stock valued at $32,187,000 after purchasing an additional 36,380 shares during the last quarter. Captrust Financial Advisors acquired a new position in Federal Agricultural Mortgage during the 1st quarter valued at about $24,137,000. Envestnet Asset Management Inc. boosted its stake in Federal Agricultural Mortgage by 1.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 65,716 shares of the credit services provider’s stock valued at $11,883,000 after purchasing an additional 1,098 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Federal Agricultural Mortgage by 0.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 46,518 shares of the credit services provider’s stock valued at $8,411,000 after purchasing an additional 293 shares during the last quarter. Institutional investors and hedge funds own 68.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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 note on Tuesday, August 6th.

Insider Activity at Federal Agricultural Mortgage

In related news, EVP Stephen P. Mullery sold 2,472 shares of the company’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 value of $450,596.16. Following the transaction, the executive vice president now owns 22,045 shares in the company, valued at approximately $4,018,362.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Stephen P. Mullery sold 2,472 shares of the company’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 value of $450,596.16. Following the transaction, the executive vice president now owns 22,045 shares in the company, valued at approximately $4,018,362.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sara Louise Faivre-Davis sold 685 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $184.55, for a total value of $126,416.75. Following the completion of the transaction, the director now owns 3,225 shares in the company, valued at approximately $595,173.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,967 shares of company stock worth $729,487. Insiders own 2.58% of the company’s stock.

Federal Agricultural Mortgage Price Performance

Federal Agricultural Mortgage stock opened at $182.87 on Tuesday. Federal Agricultural Mortgage Co. has a 52 week low of $140.44 and a 52 week high of $217.60. The company’s 50 day moving average price is $186.89 and its two-hundred day moving average price is $185.91. 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 $1.99 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.65 and a beta of 1.04.

Federal Agricultural Mortgage (NYSE:AGM) last posted its earnings results on Monday, August 5th. The credit services provider reported $3.63 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $406.23 million for the quarter, compared to the consensus estimate of $91.77 million. During the same period in the prior year, the business earned $3.86 EPS. On average, equities analysts predict that Federal Agricultural Mortgage Co. will post 15.95 earnings per share for the current 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 paid a $1.40 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.60 annualized dividend and a yield of 3.06%. Federal Agricultural Mortgage’s payout ratio is 34.15%.

About Federal Agricultural Mortgage

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.