Empirical Finance LLC Invests $1.67 Million in Federal Agricultural Mortgage Corporation (NYSE:AGM)

Key Points

• Empirical Finance LLC has invested approximately $1.67 million in Federal Agricultural Mortgage Corporation (NYSE:AGM), acquiring 8,919 shares in the first quarter.
• The company recently reported earnings of $4.19 per share, exceeding analysts' expectations, alongside a revenue of $96.79 million for the quarter.
• A quarterly dividend of $1.50 per share was paid, indicating a 3.42% dividend yield and a payout ratio of 37.08%.

Empirical Finance LLC purchased a new stake in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,919 shares of the credit services provider's stock, valued at approximately $1,672,000. Empirical Finance LLC owned about 0.08% of Federal Agricultural Mortgage as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors boosted its holdings in shares of Federal Agricultural Mortgage by 12.4% during the 4th quarter. Captrust Financial Advisors now owns 255,198 shares of the credit services provider's stock valued at $50,261,000 after acquiring an additional 28,215 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Federal Agricultural Mortgage in the 4th quarter worth about $28,914,000. Northern Trust Corp increased its position in 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 valued at $25,579,000 after buying an additional 7,593 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Federal Agricultural Mortgage by 1.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 72,602 shares of the credit services provider's stock valued at $13,614,000 after buying an additional 786 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Federal Agricultural Mortgage by 2.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 70,678 shares of the credit services provider's stock valued at $13,920,000 after buying an additional 1,620 shares in the last quarter. 68.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Federal Agricultural Mortgage Price Performance

NYSE AGM traded down $0.84 during trading hours on Wednesday, reaching $173.65. 11,875 shares of the stock traded hands, compared to its average volume of 73,291. The stock has a 50 day simple moving average of $187.61 and a two-hundred day simple moving average of $188.83. Federal Agricultural Mortgage Corporation has a 1 year low of $159.64 and a 1 year high of $217.14. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99.

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

Federal Agricultural Mortgage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.50 per share. The ex-dividend date was Monday, June 16th. This represents a $6.00 dividend on an annualized basis and a yield of 3.46%. Federal Agricultural Mortgage's dividend payout ratio is presently 37.08%.

Insiders Place Their Bets

In other Federal Agricultural Mortgage news, Director Eric T. Mckissack sold 728 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $192.37, for a total value of $140,045.36. Following the completion of the sale, the director directly owned 2,357 shares in the company, valued at $453,416.09. This trade represents a 23.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sara Louise Faivre-Davis sold 350 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $192.26, for a total transaction of $67,291.00. Following the transaction, the director directly owned 1,751 shares of the company's stock, valued at approximately $336,647.26. This trade represents a 16.66% decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

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.