Bridgeway Capital Management LLC Decreases Stake in Federal Agricultural Mortgage Corporation $AGM

Key Points

• Bridgeway Capital Management LLC reduced its stake in Federal Agricultural Mortgage Corporation by 13.9% during the first quarter, now holding approximately 0.56% of the company's shares.
• Insider trading activity includes CEO Bradford T. Nordholm selling 4,224 shares for $870,650, reflecting an 11.42% decrease in his position.
• Federal Agricultural Mortgage has an average price target of $217.00 following an upgrade from Keefe, Bruyette & Woods, maintaining a "market perform" rating.

Bridgeway Capital Management LLC cut its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 13.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,874 shares of the credit services provider's stock after selling 9,804 shares during the quarter. Bridgeway Capital Management LLC owned about 0.56% of Federal Agricultural Mortgage worth $11,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AGM. American Century Companies Inc. lifted its stake in shares of Federal Agricultural Mortgage by 11.0% in the first 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 in the last quarter. Northern Trust Corp raised its stake in Federal Agricultural Mortgage by 6.2% during the fourth quarter. Northern Trust Corp now owns 129,874 shares of the credit services provider's stock worth $25,579,000 after acquiring an additional 7,593 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Federal Agricultural Mortgage by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 106,253 shares of the credit services provider's stock worth $19,924,000 after purchasing an additional 4,963 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Federal Agricultural Mortgage by 1.1% during the first quarter. Envestnet Asset Management Inc. now owns 72,602 shares of the credit services provider's stock valued at $13,614,000 after acquiring an additional 786 shares during the period. Finally, 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 valued at $7,728,000 after purchasing an additional 3,576 shares during the period. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Eric T. Mckissack sold 728 shares of the business's 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 transaction, the director directly owned 2,357 shares of the company's stock, valued at $453,416.09. The trade was a 23.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bradford T. Nordholm sold 4,224 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $206.12, for a total value of $870,650.88. Following the sale, the chief executive officer owned 32,770 shares in the company, valued at $6,754,552.40. The trade was a 11.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,745 shares of company stock worth $1,380,853 over the last 90 days. 2.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Federal Agricultural Mortgage Stock Performance

NYSE AGM opened at $204.76 on Thursday. The company's fifty day moving average is $188.31 and its two-hundred day moving average is $187.62. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.08 and a beta of 1.01. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.54 and a quick ratio of 0.54. Federal Agricultural Mortgage Corporation 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 posted its quarterly earnings results on Thursday, August 7th. The credit services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $4.29 by $0.03. The firm had revenue of $100.51 million during the quarter, compared to analysts' expectations of $96.54 million. Federal Agricultural Mortgage had a return on equity of 18.86% and a net margin of 13.14%. Equities research analysts forecast that Federal Agricultural Mortgage Corporation will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Dividend Announcement

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

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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