Federal Agricultural Mortgage Corporation $AGM Shares Purchased by VELA Investment Management LLC

Key Points

• VELA Investment Management LLC increased its stake in Federal Agricultural Mortgage Corporation by 18.2%, owning a total of 15,350 shares worth approximately $2.98 million at the end of the second quarter.
• Federal Agricultural Mortgage recently announced a quarterly dividend of $1.50 per share, resulting in an annualized dividend of $6.00 and a yield of 3.9%.
• The company's stock has seen a decline of 5.0%, currently priced at $155.49, with a 52-week high of $217.14, and its latest earnings report showed an EPS of $4.32, beating analyst estimates.

VELA Investment Management LLC raised its position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 18.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,350 shares of the credit services provider's stock after purchasing an additional 2,368 shares during the period. VELA Investment Management LLC owned 0.14% of Federal Agricultural Mortgage worth $2,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AGM. Napatree Capital LLC raised its position in shares of Federal Agricultural Mortgage by 7.2% during the 1st quarter. Napatree Capital LLC now owns 1,525 shares of the credit services provider's stock worth $286,000 after buying an additional 102 shares in the last quarter. Balboa Wealth Partners raised its position in shares of Federal Agricultural Mortgage by 4.1% during the 1st quarter. Balboa Wealth Partners now owns 3,825 shares of the credit services provider's stock worth $717,000 after buying an additional 150 shares in the last quarter. Inspire Investing LLC raised its position in shares of Federal Agricultural Mortgage by 9.2% during the 2nd quarter. Inspire Investing LLC now owns 2,004 shares of the credit services provider's stock worth $389,000 after buying an additional 168 shares in the last quarter. Cynosure Group LLC raised its position in shares of Federal Agricultural Mortgage by 11.2% during the 1st quarter. Cynosure Group LLC now owns 1,677 shares of the credit services provider's stock worth $314,000 after buying an additional 169 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Federal Agricultural Mortgage in the 1st quarter worth approximately $34,000. 68.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction of $60,091.37. Following the sale, the executive vice president owned 10,532 shares in the company, valued at $2,160,007.88. The trade was a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bradford T. Nordholm sold 4,224 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $206.12, for a total transaction of $870,650.88. Following the transaction, the chief executive officer directly owned 32,770 shares in the company, valued at $6,754,552.40. The trade was a 11.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,017 shares of company stock worth $1,240,807 over the last 90 days. 2.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on AGM shares. Keefe, Bruyette & Woods boosted their target price on shares of Federal Agricultural Mortgage from $215.00 to $217.00 and gave the stock a "market perform" rating in a report on Friday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Federal Agricultural Mortgage in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $217.00.

Federal Agricultural Mortgage Stock Down 5.0%

AGM stock opened at $155.49 on Friday. Federal Agricultural Mortgage Corporation has a 52-week low of $155.19 and a 52-week high of $217.14. The company's 50 day simple moving average is $184.96 and its 200-day simple moving average is $183.41. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $1.70 billion, a P/E ratio of 9.16, a P/E/G ratio of 0.85 and a beta of 0.95.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The credit services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.29 by $0.03. Federal Agricultural Mortgage had a net margin of 13.14% and a return on equity of 18.86%. The business had revenue of $100.51 million for the quarter, compared to analyst estimates of $96.54 million. As a group, equities research analysts anticipate that Federal Agricultural Mortgage Corporation will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $1.50 per share. The ex-dividend date was Monday, September 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.9%. Federal Agricultural Mortgage's payout ratio is currently 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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