Barnett & Company Inc. Has $7.54 Million Stock Position in Federal Agricultural Mortgage Corporation (NYSE:AGM)

Key Points

• Barnett & Company Inc. has reduced its holdings in Federal Agricultural Mortgage Corporation by 11.2%, bringing its total to 40,214 shares, which now represents 6.3% of its portfolio.
• The company declared a quarterly dividend of $1.50 per share, resulting in an annualized yield of 3.4% and a dividend payout ratio of 35.34% as of the latest reporting.
• Analysts predict Federal Agricultural Mortgage will post an earnings per share (EPS) of 17.6 for the current year, reflecting a strong outlook for the credit services provider.

Barnett & Company Inc. trimmed its position in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,214 shares of the credit services provider's stock after selling 5,075 shares during the period. Federal Agricultural Mortgage comprises about 6.3% of Barnett & Company Inc.'s investment portfolio, making the stock its 2nd largest position. Barnett & Company Inc. owned about 0.37% of Federal Agricultural Mortgage worth $7,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AGM. Captrust Financial Advisors boosted its position in shares of Federal Agricultural Mortgage by 12.4% in the fourth quarter. Captrust Financial Advisors now owns 255,198 shares of the credit services provider's stock worth $50,261,000 after buying an additional 28,215 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Federal Agricultural Mortgage in the fourth quarter worth about $28,914,000. Northern Trust Corp boosted its position in shares of Federal Agricultural Mortgage by 6.2% in the fourth quarter. Northern Trust Corp now owns 129,874 shares of the credit services provider's stock worth $25,579,000 after buying an additional 7,593 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Federal Agricultural Mortgage by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 106,253 shares of the credit services provider's stock worth $19,924,000 after buying an additional 4,963 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Federal Agricultural Mortgage by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 72,602 shares of the credit services provider's stock worth $13,614,000 after buying an additional 786 shares during the period. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their target price on Federal Agricultural Mortgage from $215.00 to $217.00 and gave the stock a "market perform" rating in a research report on Friday, August 8th.

Federal Agricultural Mortgage Stock Up 1.4%

Shares of AGM stock traded up $2.52 during trading hours on Thursday, hitting $187.74. 32,414 shares of the company were exchanged, compared to its average volume of 72,709. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.54 and a current ratio of 0.54. Federal Agricultural Mortgage Corporation has a one year low of $159.64 and a one year high of $217.14. The business's 50-day simple moving average is $185.02 and its two-hundred day simple moving average is $187.39. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 0.95 and a beta of 1.02.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last issued 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. 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 analysts' expectations of $96.54 million. Sell-side analysts predict that Federal Agricultural Mortgage Corporation will post 17.6 EPS for the current fiscal year.

Insider Activity at Federal Agricultural Mortgage

In other news, Director Eric T. Mckissack sold 728 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $192.37, for a total transaction of $140,045.36. Following the transaction, the director owned 2,357 shares of the company's stock, valued at approximately $453,416.09. This trade represents a 23.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company's stock.

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.