Argent Capital Management LLC Sells 5,254 Shares of Federal Agricultural Mortgage Corp. (AGM)

Argent Capital Management LLC lowered its stake in Federal Agricultural Mortgage Corp. (NYSE:AGM) by 10.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,021 shares of the credit services provider’s stock after selling 5,254 shares during the period. Argent Capital Management LLC’s holdings in Federal Agricultural Mortgage Corp. were worth $2,534,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Federal Agricultural Mortgage Corp. during the first quarter valued at approximately $299,000. American International Group Inc. raised its position in Federal Agricultural Mortgage Corp. by 7.1% in the first quarter. American International Group Inc. now owns 5,287 shares of the credit services provider’s stock valued at $304,000 after buying an additional 350 shares in the last quarter. Stifel Financial Corp purchased a new position in Federal Agricultural Mortgage Corp. during the first quarter valued at approximately $300,000. Prudential Financial Inc. raised its position in Federal Agricultural Mortgage Corp. by 29.2% in the first quarter. Prudential Financial Inc. now owns 132,828 shares of the credit services provider’s stock valued at $7,647,000 after buying an additional 29,995 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Federal Agricultural Mortgage Corp. by 20.3% in the first quarter. Nordea Investment Management AB now owns 111,300 shares of the credit services provider’s stock valued at $6,408,000 after buying an additional 18,792 shares in the last quarter. Institutional investors and hedge funds own 61.14% of the company’s stock.

Institutional Ownership by Quarter for Federal Agricultural Mortgage Corp. (NYSE:AGM)

Federal Agricultural Mortgage Corp. (NYSE:AGM) traded up 0.63% during midday trading on Thursday, reaching $62.28. 27,898 shares of the company traded hands. The company has a market cap of $659.98 million, a price-to-earnings ratio of 9.19 and a beta of 1.05. Federal Agricultural Mortgage Corp. has a 12-month low of $32.31 and a 12-month high of $65.06. The company has a 50-day moving average price of $57.72 and a 200-day moving average price of $56.64.

Federal Agricultural Mortgage Corp. (NYSE:AGM) last announced its earnings results on Wednesday, May 10th. The credit services provider reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.16. Federal Agricultural Mortgage Corp. had a return on equity of 17.14% and a net margin of 21.88%. The company had revenue of $43.87 million during the quarter. On average, analysts predict that Federal Agricultural Mortgage Corp. will post $5.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.33%. Federal Agricultural Mortgage Corp.’s dividend payout ratio (DPR) is presently 20.97%.

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Several equities research analysts recently weighed in on AGM shares. TheStreet raised shares of Federal Agricultural Mortgage Corp. from a “c” rating to a “b-” rating in a report on Wednesday, May 17th. Keefe, Bruyette & Woods set a $65.00 price objective on shares of Federal Agricultural Mortgage Corp. and gave the stock a “hold” rating in a report on Tuesday, May 16th.

In other news, insider Gregory Ramsey sold 799 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $60.82, for a total value of $48,595.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.84% of the company’s stock.

Federal Agricultural Mortgage Corp. Company Profile

Federal Agricultural Mortgage Corporation (Farmer Mac) provides a secondary market for a range of loans made to borrowers in rural America. The Company’s segments include Farm & Ranch, USDA Guarantees, Rural Utilities, Institutional Credit and Corporate. Its secondary market activities are purchasing eligible loans directly from lenders; providing advances against eligible loans by purchasing obligations secured by those loans; securitizing assets and guaranteeing the payment of principal and interest on the resulting securities that represent interests in, or obligations secured by, pools of eligible loans; and issuing long-term standby purchase commitments (LTSPCs) for eligible loans.

12 Month Chart for NYSE:AGM

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