Bridgeway Capital Management LLC Has $11.41 Million Holdings 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 decreased its position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,874 shares of the credit services provider's stock after selling 9,804 shares during the period. Bridgeway Capital Management LLC owned 0.56% of Federal Agricultural Mortgage worth $11,414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in Federal Agricultural Mortgage by 11.0% during 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 during the period. Northern Trust Corp grew its stake in shares of Federal Agricultural Mortgage by 6.2% in the 4th quarter. Northern Trust Corp now owns 129,874 shares of the credit services provider's stock worth $25,579,000 after purchasing an additional 7,593 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 in the last quarter. Envestnet Asset Management Inc. lifted its stake in 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 purchasing an additional 786 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Federal Agricultural Mortgage by 9.5% during the first quarter. Russell Investments Group Ltd. now owns 41,214 shares of the credit services provider's stock worth $7,728,000 after buying an additional 3,576 shares in the last quarter. 68.03% of the stock is owned by institutional investors.

Federal Agricultural Mortgage Trading Down 1.4%

NYSE AGM traded down $2.87 on Tuesday, hitting $200.54. 15,743 shares of the stock were exchanged, compared to its average volume of 72,966. The company's 50-day moving average price is $188.79 and its two-hundred day moving average price is $187.55. 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. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.06 and a beta of 1.00.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last issued its earnings results on Thursday, August 7th. The credit services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $4.29 by $0.03. The business 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%. Research analysts predict that Federal Agricultural Mortgage Corporation will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $1.50 dividend. The ex-dividend date is Monday, September 15th. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. Federal Agricultural Mortgage's dividend payout ratio is presently 35.34%.

Analyst Ratings Changes

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

Insider Activity

In other news, insider Gregory Ramsey sold 1,500 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $206.71, for a total transaction of $310,065.00. Following the completion of the sale, the insider directly owned 3,085 shares of the company's stock, valued at $637,700.35. This trade represents a 32.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Zachary Carpenter sold 293 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $205.09, for a total value of $60,091.37. Following the completion of the sale, the executive vice president directly owned 10,532 shares of the company's stock, valued at approximately $2,160,007.88. The trade was a 2.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,017 shares of company stock worth $1,240,807 in the last ninety days. Corporate insiders own 2.20% of the company's stock.

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.