California State Teachers Retirement System Has $1.03 Million Position in Federal Agricultural Mortgage Corp. (AGM)
California State Teachers Retirement System cut its stake in shares of Federal Agricultural Mortgage Corp. (NYSE:AGM) by 9.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,108 shares of the credit services provider’s stock after selling 1,503 shares during the quarter. California State Teachers Retirement System’s holdings in Federal Agricultural Mortgage were worth $1,026,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Virtu KCG Holdings LLC purchased a new stake in Federal Agricultural Mortgage during the 2nd quarter valued at about $275,000. TIAA CREF Investment Management LLC boosted its holdings in Federal Agricultural Mortgage by 45.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 61,598 shares of the credit services provider’s stock valued at $3,985,000 after acquiring an additional 19,219 shares during the period. State Street Corp boosted its holdings in Federal Agricultural Mortgage by 5.3% during the 2nd quarter. State Street Corp now owns 190,318 shares of the credit services provider’s stock valued at $12,309,000 after acquiring an additional 9,640 shares during the period. 361 Capital LLC purchased a new stake in Federal Agricultural Mortgage during the 3rd quarter valued at about $2,279,000. Finally, Macquarie Group Ltd. purchased a new stake in Federal Agricultural Mortgage during the 3rd quarter valued at about $1,109,000. Institutional investors own 64.06% of the company’s stock.
Several equities research analysts recently weighed in on AGM shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $65.00 target price on shares of Federal Agricultural Mortgage in a report on Friday, November 10th. ValuEngine upgraded Federal Agricultural Mortgage from a “hold” rating to a “buy” rating in a report on Sunday, December 31st.
Federal Agricultural Mortgage (NYSE:AGM) last issued its earnings results on Thursday, November 9th. The credit services provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.11. The company had revenue of $43.86 million during the quarter. Federal Agricultural Mortgage had a return on equity of 14.81% and a net margin of 23.05%.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, December 14th. Federal Agricultural Mortgage’s payout ratio is 19.35%.
In other Federal Agricultural Mortgage news, Director Dennis L. Brack sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $72.13, for a total transaction of $108,195.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Curtis Covington sold 575 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $74.29, for a total value of $42,716.75. The disclosure for this sale can be found here. Insiders have sold a total of 6,355 shares of company stock valued at $456,418 in the last ninety days. 3.75% of the stock is currently owned by corporate insiders.
Federal Agricultural Mortgage 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.
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