Federal Agricultural Mortgage Corporation (AGM) SVP John Curtis Covington Sells 575 Shares
Federal Agricultural Mortgage Corporation (NYSE:AGM) SVP John Curtis Covington sold 575 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $74.29, for a total value of $42,716.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Federal Agricultural Mortgage Corporation (NYSE:AGM) opened at $71.82 on Tuesday. The company has a market capitalization of $766.69, a PE ratio of 12.45 and a beta of 1.25. Federal Agricultural Mortgage Corporation has a 52-week low of $50.83 and a 52-week high of $77.78. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.36 and a current ratio of 0.36.
Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings data on Thursday, November 9th. The credit services provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. The firm 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, December 14th. Federal Agricultural Mortgage’s dividend payout ratio is presently 19.35%.
AGM has been the subject of a number of recent research reports. TheStreet cut Federal Agricultural Mortgage from a “b-” rating to a “c+” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $65.00 price objective on shares of Federal Agricultural Mortgage in a research report on Friday, November 10th. Finally, BidaskClub cut Federal Agricultural Mortgage from a “hold” rating to a “sell” rating in a research report on Friday, August 4th.
Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its holdings in Federal Agricultural Mortgage by 31.4% in the 2nd quarter. Renaissance Technologies LLC now owns 242,500 shares of the credit services provider’s stock valued at $15,690,000 after buying an additional 57,900 shares during the period. ClariVest Asset Management LLC grew its holdings in Federal Agricultural Mortgage by 48.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 172,081 shares of the credit services provider’s stock valued at $11,133,000 after buying an additional 55,820 shares during the period. Ameriprise Financial Inc. purchased a new stake in Federal Agricultural Mortgage in the 2nd quarter valued at about $2,969,000. 361 Capital LLC purchased a new stake in Federal Agricultural Mortgage in the 3rd quarter valued at about $2,279,000. Finally, Prudential Financial Inc. grew its holdings in Federal Agricultural Mortgage by 22.7% in the 2nd quarter. Prudential Financial Inc. now owns 162,972 shares of the credit services provider’s stock valued at $10,544,000 after buying an additional 30,144 shares during the period. Hedge funds and other institutional investors own 64.29% of the company’s stock.
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Federal Agricultural Mortgage 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.
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