Federal Agricultural Mortgage Corporation Announces Quarterly Dividend of $1.50 (NYSE:AGM)

Key Points

• Federal Agricultural Mortgage Corporation declared a quarterly dividend of $1.50 per share, with an annualized dividend yield of 3.2%, payable on September 30th to investors on record as of September 15th.
• The company reported earnings of $4.32 per share for the quarter, surpassing estimates, and posted revenue of $100.51 million, which was above expectations.
• Insider ownership is at 2.20%, with significant recent trading activity, including the sale of 728 shares by a director, indicating varying confidence levels among insiders.

Federal Agricultural Mortgage Corporation (NYSE:AGM - Get Free Report) announced a quarterly dividend on Friday, August 15th, Wall Street Journal reports. Investors of record on Monday, September 15th will be paid a dividend of 1.50 per share by the credit services provider on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, September 15th.

Federal Agricultural Mortgage has a dividend payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Federal Agricultural Mortgage to earn $18.28 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 32.8%.

Federal Agricultural Mortgage Stock Performance

NYSE AGM traded down $0.03 during trading hours on Friday, hitting $188.20. 103,911 shares of the company's stock traded hands, compared to its average volume of 73,197. The business's fifty day moving average price is $185.09 and its two-hundred day moving average price is $187.32. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $2.06 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.96 and a beta of 1.02. Federal Agricultural Mortgage has a 52 week low of $159.64 and a 52 week high of $217.14.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last announced its earnings results on Thursday, August 7th. The credit services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.03. The company had revenue of $100.51 million during the quarter, compared to analyst estimates of $96.54 million. Federal Agricultural Mortgage had a net margin of 13.14% and a return on equity of 18.86%. Equities research analysts predict that Federal Agricultural Mortgage will post 17.6 EPS for the current year.

Insider Buying and Selling at Federal Agricultural Mortgage

In other news, Director Eric T. Mckissack sold 728 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $192.37, for a total value of $140,045.36. Following the transaction, the director owned 2,357 shares of the company's stock, valued at approximately $453,416.09. The trade was a 23.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Federal Agricultural Mortgage

Several hedge funds have recently modified their holdings of AGM. LPL Financial LLC lifted its holdings in shares of Federal Agricultural Mortgage by 11.0% in the fourth quarter. LPL Financial LLC now owns 8,793 shares of the credit services provider's stock worth $1,732,000 after buying an additional 874 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Federal Agricultural Mortgage by 5.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 71,816 shares of the credit services provider's stock worth $14,144,000 after buying an additional 3,933 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth $28,914,000. XTX Topco Ltd purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth $606,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth $1,004,000. Hedge funds and other institutional investors own 68.03% of the company's stock.

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.

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