Federal Agricultural Mortgage (NYSE:AGM) Sets New 52-Week Low - Here's What Happened

Key Points

• Federal Agricultural Mortgage (NYSE:AGM) shares reached a new 52-week low at $156.50, closing at $155.33 amidst trading volume of 34,707 shares.
• The company's quarterly earnings surpassed estimates, reporting $4.32 EPS against a consensus of $4.29, with revenues of $100.51 million exceeding expectations of $96.54 million.
• Federal Agricultural Mortgage declared a quarterly dividend of $1.50 per share, representing an annualized dividend of $6.00, and a yield of 3.9% with a payout ratio of 35.34%.

Federal Agricultural Mortgage Corporation (NYSE:AGM - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $156.50 and last traded at $155.33, with a volume of 34707 shares traded. The stock had previously closed at $163.61.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Federal Agricultural Mortgage in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on shares of Federal Agricultural Mortgage from $215.00 to $217.00 and gave the stock a "market perform" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Federal Agricultural Mortgage currently has an average rating of "Hold" and a consensus price target of $217.00.

Federal Agricultural Mortgage Stock Performance

The firm's 50-day moving average price is $185.30 and its two-hundred day moving average price is $183.63. The firm has a market capitalization of $1.70 billion, a PE ratio of 9.16, a P/E/G ratio of 0.86 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.95.

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

Federal Agricultural Mortgage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.00 dividend on an annualized basis and a yield of 3.9%. Federal Agricultural Mortgage's payout ratio is presently 35.34%.

Insider Activity at Federal Agricultural Mortgage

In related news, CEO Bradford T. Nordholm sold 4,224 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $206.12, for a total transaction of $870,650.88. Following the transaction, the chief executive officer directly owned 32,770 shares of the company's stock, valued at approximately $6,754,552.40. The trade was a 11.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Zachary Carpenter sold 293 shares of Federal Agricultural Mortgage stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $205.09, for a total transaction of $60,091.37. Following the completion of the sale, the executive vice president owned 10,532 shares of the company's stock, valued at $2,160,007.88. This trade represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,017 shares of company stock valued at $1,240,807. Corporate insiders own 2.20% of the company's stock.

Institutional Trading of Federal Agricultural Mortgage

A number of institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC raised its stake in shares of Federal Agricultural Mortgage by 1,581.4% in the 2nd quarter. ProShare Advisors LLC now owns 33,274 shares of the credit services provider's stock valued at $6,464,000 after buying an additional 31,295 shares in the last quarter. CSM Advisors LLC bought a new stake in shares of Federal Agricultural Mortgage in the 2nd quarter worth about $5,916,000. Nuveen LLC bought a new stake in shares of Federal Agricultural Mortgage in the 1st quarter worth about $4,667,000. American Century Companies Inc. grew its holdings in Federal Agricultural Mortgage by 11.0% during the 1st quarter. American Century Companies Inc. now owns 244,550 shares of the credit services provider's stock worth $45,856,000 after acquiring an additional 24,289 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in Federal Agricultural Mortgage by 6.2% during the 2nd quarter. Captrust Financial Advisors now owns 295,353 shares of the credit services provider's stock worth $57,381,000 after acquiring an additional 17,233 shares during the last quarter. 68.03% of the stock is currently owned by institutional investors and hedge funds.

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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