Federal Agricultural Mortgage Corporation $AGM Shares Sold by Ancora Advisors LLC

Key Points

• Ancora Advisors LLC reduced its stake in Federal Agricultural Mortgage Corporation by 9.3%, owning 29,037 shares valued at approximately $5.44 million as of the latest SEC filing.
• Insider Gregory Ramsey sold 1,500 shares, and CEO Bradford T. Nordholm sold 4,224 shares of the company on August 27th, marking significant decreases in their ownership stakes.
• The company declared a quarterly dividend of $1.50, an annualized yield of 2.9%, payable to shareholders on September 30th.

Ancora Advisors LLC reduced its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 9.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,037 shares of the credit services provider's stock after selling 2,975 shares during the quarter. Ancora Advisors LLC owned about 0.27% of Federal Agricultural Mortgage worth $5,445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in Federal Agricultural Mortgage in the first quarter valued at $4,667,000. American Century Companies Inc. increased its stake in 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 valued at $45,856,000 after purchasing an additional 24,289 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Federal Agricultural Mortgage in the fourth quarter valued at $3,102,000. Cary Street Partners Financial LLC acquired a new position in Federal Agricultural Mortgage in the fourth quarter valued at $2,215,000. Finally, GAMMA Investing LLC increased its stake in Federal Agricultural Mortgage by 20,282.6% in the first quarter. GAMMA Investing LLC now owns 9,376 shares of the credit services provider's stock valued at $1,758,000 after purchasing an additional 9,330 shares during the last quarter. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Gregory Ramsey sold 1,500 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $206.71, for a total value of $310,065.00. Following the completion of the sale, the insider owned 3,085 shares in the company, valued at approximately $637,700.35. This trade represents a 32.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bradford T. Nordholm sold 4,224 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $206.12, for a total value of $870,650.88. Following the completion of the sale, the chief executive officer owned 32,770 shares of the company's stock, valued at approximately $6,754,552.40. This trade represents a 11.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,017 shares of company stock worth $1,240,807. 2.20% of the stock is currently owned by corporate insiders.

Federal Agricultural Mortgage Trading Down 1.7%

NYSE:AGM traded down $3.47 on Tuesday, hitting $199.94. 11,023 shares of the stock were exchanged, compared to its average volume of 72,956. The stock has a market cap of $2.19 billion, a PE ratio of 11.77, a PEG ratio of 1.06 and a beta of 1.00. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.95. The stock has a fifty day moving average of $188.79 and a 200-day moving average of $187.55. Federal Agricultural Mortgage Corporation has a fifty-two week low of $159.64 and a fifty-two week high of $217.14.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last announced its quarterly 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 company had revenue of $100.51 million during the quarter, compared to analyst estimates of $96.54 million. Federal Agricultural Mortgage had a return on equity of 18.86% and a net margin of 13.14%. As a group, equities analysts expect that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.