Algert Global LLC Boosts Holdings in Federal Agricultural Mortgage Corporation $AGM

Key Points

• Algert Global LLC increased its holdings in Federal Agricultural Mortgage Corporation by 70.5% during Q1, now owning 3,046 shares valued at approximately $571,000.
• Federal Agricultural Mortgage announced a quarterly dividend of $1.50 per share, which will be paid on September 30, representing an annual yield of 2.9%.
• The company's stock rose 4.8% recently, with a current market cap of $2.24 billion and recent earnings surpassing analysts' estimates.

Algert Global LLC lifted its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 70.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,046 shares of the credit services provider's stock after buying an additional 1,260 shares during the period. Algert Global LLC's holdings in Federal Agricultural Mortgage were worth $571,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. grew its position in shares of Federal Agricultural Mortgage by 11.0% in the 1st quarter. American Century Companies Inc. now owns 244,550 shares of the credit services provider's stock valued at $45,856,000 after buying an additional 24,289 shares during the last quarter. Sei Investments Co. boosted its stake in Federal Agricultural Mortgage by 15.0% during the 1st quarter. Sei Investments Co. now owns 15,154 shares of the credit services provider's stock worth $2,846,000 after purchasing an additional 1,980 shares during the period. Russell Investments Group Ltd. boosted its stake in Federal Agricultural Mortgage by 9.5% during the 1st quarter. Russell Investments Group Ltd. now owns 41,214 shares of the credit services provider's stock worth $7,728,000 after purchasing an additional 3,576 shares during the period. Nuveen LLC acquired a new stake in Federal Agricultural Mortgage during the 1st quarter worth $4,667,000. Finally, Global Alpha Capital Management Ltd. boosted its stake in Federal Agricultural Mortgage by 7.6% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 15,107 shares of the credit services provider's stock worth $2,833,000 after purchasing an additional 1,071 shares during the period. 68.03% of the stock is owned by hedge funds and other institutional investors.

Federal Agricultural Mortgage Stock Up 4.8%

Shares of Federal Agricultural Mortgage stock opened at $204.5850 on Friday. The company has a market cap of $2.24 billion, a P/E ratio of 12.05, a PEG ratio of 1.05 and a beta of 1.02. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.54 and a current ratio of 0.54. Federal Agricultural Mortgage Corporation has a one year low of $159.64 and a one year high of $217.14. The firm has a fifty day moving average of $185.47 and a two-hundred day moving average of $187.10.

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, topping analysts' consensus estimates of $4.29 by $0.03. The company had revenue of $100.51 million during the quarter, compared to the consensus estimate of $96.54 million. Federal Agricultural Mortgage had a net margin of 13.14% and a return on equity of 18.86%. On average, analysts forecast that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current year.

Federal Agricultural Mortgage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, September 15th. This represents a $6.00 dividend on an annualized basis and a yield of 2.9%. Federal Agricultural Mortgage's dividend payout ratio is presently 35.34%.

Insider Buying and Selling

In other Federal Agricultural Mortgage news, Director Eric T. Mckissack sold 728 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $192.37, for a total transaction of $140,045.36. Following the completion of the transaction, the director owned 2,357 shares in the company, valued at approximately $453,416.09. This represents a 23.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price target on shares of Federal Agricultural Mortgage from $215.00 to $217.00 and gave the stock a "market perform" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $217.00.

Federal Agricultural Mortgage Company Profile

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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