Invesco Ltd. Cuts Position in Federal Agricultural Mortgage Corporation $AGM

Key Points

• Invesco Ltd. has reduced its stake in Federal Agricultural Mortgage Corporation by 16.2%, now holding 28,986 shares valued at approximately $5.4 million.
• Insider transactions include Director Eric T. Mckissack selling 728 shares at an average price of $192.37, resulting in a 23.60% decrease in their ownership.
• Recent analysis from Keefe, Bruyette & Woods raised the price objective for Federal Agricultural Mortgage from $215.00 to $217.00, maintaining a "market perform" rating.

Invesco Ltd. decreased its position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,986 shares of the credit services provider's stock after selling 5,621 shares during the quarter. Invesco Ltd. owned approximately 0.27% of Federal Agricultural Mortgage worth $5,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Global Alpha Capital Management Ltd. increased its position in shares of Federal Agricultural Mortgage by 7.6% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 15,107 shares of the credit services provider's stock worth $2,833,000 after purchasing an additional 1,071 shares during the last quarter. Cynosure Group LLC increased 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 purchasing an additional 169 shares during the last quarter. Deutsche Bank AG increased its position in shares of Federal Agricultural Mortgage by 33.2% during the 1st quarter. Deutsche Bank AG now owns 19,632 shares of the credit services provider's stock worth $3,681,000 after purchasing an additional 4,896 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Federal Agricultural Mortgage by 4.9% during 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 during the last quarter. Finally, Vestcor Inc increased its position in shares of Federal Agricultural Mortgage by 10.7% during the 1st quarter. Vestcor Inc now owns 3,100 shares of the credit services provider's stock worth $581,000 after purchasing an additional 300 shares during the last quarter. 68.03% of the stock is owned by institutional investors and hedge funds.

Federal Agricultural Mortgage Trading Up 0.2%

NYSE:AGM traded up $0.51 on Monday, reaching $210.24. 48,452 shares of the company's stock were exchanged, compared to its average volume of 72,201. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00. The business has a fifty day moving average of $187.52 and a 200-day moving average of $187.29. Federal Agricultural Mortgage Corporation has a 52-week low of $159.64 and a 52-week high of $217.14.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.29 by $0.03. The company had revenue of $100.51 million for the quarter, compared to analyst estimates of $96.54 million. Federal Agricultural Mortgage had a net margin of 13.14% and a return on equity of 18.86%. As a group, analysts expect that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current year.

Federal Agricultural Mortgage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, September 15th. This represents a $6.00 dividend on an annualized basis and a yield of 2.9%. Federal Agricultural Mortgage's dividend payout ratio is 35.34%.

Insider Buying and Selling at Federal Agricultural Mortgage

In other Federal Agricultural Mortgage news, EVP Zachary Carpenter sold 293 shares of the business's stock in a transaction dated 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 directly owned 10,532 shares in the company, valued at $2,160,007.88. This represents a 2.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory Ramsey sold 1,500 shares of the business'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 sale, the insider owned 3,085 shares in the company, valued at $637,700.35. This trade represents a 32.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,745 shares of company stock valued at $1,380,853 over the last three months. 2.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their price objective 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. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Federal Agricultural Mortgage currently has an average rating of "Hold" and a consensus target price of $217.00.

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.