Allspring Global Investments Holdings LLC Cuts Holdings in Federal Agricultural Mortgage Corporation (NYSE:AGM)

Allspring Global Investments Holdings LLC lowered its position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,960 shares of the credit services provider's stock after selling 1,697 shares during the period. Allspring Global Investments Holdings LLC owned about 0.28% of Federal Agricultural Mortgage worth $5,618,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AGM. Balboa Wealth Partners lifted its stake in shares of Federal Agricultural Mortgage by 4.1% in the 1st quarter. Balboa Wealth Partners now owns 3,825 shares of the credit services provider's stock valued at $717,000 after acquiring an additional 150 shares during the last quarter. Valmark Advisers Inc. lifted its stake in shares of Federal Agricultural Mortgage by 4.6% in the 1st quarter. Valmark Advisers Inc. now owns 9,023 shares of the credit services provider's stock valued at $1,692,000 after acquiring an additional 397 shares during the last quarter. Byrne Asset Management LLC lifted its stake in shares of Federal Agricultural Mortgage by 116.1% in the 1st quarter. Byrne Asset Management LLC now owns 242 shares of the credit services provider's stock valued at $45,000 after acquiring an additional 130 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Federal Agricultural Mortgage in the 1st quarter valued at about $310,000. Finally, NBC Securities Inc. lifted its stake in shares of Federal Agricultural Mortgage by 151,400.0% in the 1st quarter. NBC Securities Inc. now owns 1,515 shares of the credit services provider's stock valued at $284,000 after acquiring an additional 1,514 shares during the last quarter. Institutional investors own 68.03% of the company's stock.

Insider Buying and Selling

In other news, Director Sara Louise Faivre-Davis sold 350 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $192.26, for a total value of $67,291.00. Following the completion of the transaction, the director owned 1,751 shares of the company's stock, valued at approximately $336,647.26. This represents a 16.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric T. Mckissack sold 728 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $192.37, for a total value of $140,045.36. Following the completion of the transaction, the director directly owned 2,357 shares of the company's stock, valued at $453,416.09. This represents a 23.60% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $215.00 target price (down previously from $230.00) on shares of Federal Agricultural Mortgage in a research note on Monday, May 12th.

Federal Agricultural Mortgage Trading Down 1.8%

AGM traded down $3.69 during midday trading on Wednesday, reaching $197.51. 157,244 shares of the company's stock traded hands, compared to its average volume of 59,689. The firm has a fifty day moving average of $189.54 and a two-hundred day moving average of $190.32. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.66 and a beta of 0.99. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.53 and a quick ratio of 0.53. Federal Agricultural Mortgage Corporation has a 52 week low of $159.64 and a 52 week high of $217.60.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The credit services provider reported $4.19 EPS for the quarter, beating analysts' consensus estimates of $4.00 by $0.19. The business had revenue of $96.79 million during the quarter, compared to analyst estimates of $94.33 million. Federal Agricultural Mortgage had a return on equity of 18.77% and a net margin of 12.65%. On average, equities analysts anticipate that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Monday, June 16th. Federal Agricultural Mortgage's payout ratio is 37.08%.

Federal Agricultural Mortgage 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.