Federal Agricultural Mortgage Corporation $AGM Shares Sold by Empirical Finance LLC

Empirical Finance LLC decreased its position in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 14.8% in the 2nd quarter, Holdings Channel reports. The fund owned 35,436 shares of the credit services provider’s stock after selling 6,156 shares during the period. Empirical Finance LLC’s holdings in Federal Agricultural Mortgage were worth $7,061,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in Federal Agricultural Mortgage during the 2nd quarter valued at $27,000. Allworth Financial LP increased its position in shares of Federal Agricultural Mortgage by 640.0% in the 4th quarter. Allworth Financial LP now owns 185 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 160 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Federal Agricultural Mortgage in the 1st quarter valued at about $34,000. Kestra Advisory Services LLC bought a new position in shares of Federal Agricultural Mortgage during the fourth quarter worth about $40,000. Finally, Ancora Advisors LLC bought a new position in shares of Federal Agricultural Mortgage during the second quarter worth about $42,000. 68.03% of the stock is owned by institutional investors and hedge funds.

Federal Agricultural Mortgage Stock Performance

Shares of NYSE AGM traded down $2.19 during midday trading on Tuesday, hitting $225.59. The company’s stock had a trading volume of 112,214 shares, compared to its average volume of 119,128. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.56 and a current ratio of 0.56. Federal Agricultural Mortgage Corporation has a 1-year low of $136.57 and a 1-year high of $248.29. The firm’s fifty day moving average price is $217.53 and its 200-day moving average price is $185.33. The firm has a market cap of $2.45 billion, a P/E ratio of 12.32, a P/E/G ratio of 0.85 and a beta of 0.97.

Federal Agricultural Mortgage (NYSE:AGM) last issued its earnings results on Thursday, July 30th. The credit services provider reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.87 by $0.53. Federal Agricultural Mortgage had a net margin of 29.98% and a return on equity of 18.90%. The firm had revenue of $125.01 million for the quarter, compared to analysts’ expectations of $113.51 million. On average, sell-side analysts forecast that Federal Agricultural Mortgage Corporation will post 20.72 EPS for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Federal Agricultural Mortgage’s dividend payout ratio is presently 34.95%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AGM shares. Weiss Ratings raised Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 29th. Zacks Research upgraded Federal Agricultural Mortgage from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods upped their price target on Federal Agricultural Mortgage from $228.00 to $255.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $255.00.

About Federal Agricultural Mortgage

Federal Agricultural Mortgage Corporation (NYSE: AGM), commonly known as Farmer Mac, is a government-sponsored enterprise chartered in 1988 under the Agricultural Credit Act of 1987. Headquartered in Washington, DC, Farmer Mac was established to enhance the availability of mortgage credit for the agricultural and rural utility sectors. The corporation operates as a secondary market for agricultural real estate and rural infrastructure loans, providing lenders with liquidity and risk management solutions.

The company’s principal business activities include purchasing and securitizing long-term fixed-rate agricultural mortgage loans and rural utilities loans originated by approved lenders.