Federal Agricultural Mortgage Corporation (NYSE:AGM) Shares Sold by New York State Common Retirement Fund

Key Points

• The New York State Common Retirement Fund has reduced its holdings in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 46.9%, now owning 3,277 shares worth approximately $614,000.
• Federal Agricultural Mortgage recently announced a quarterly dividend of $1.50 per share, resulting in an annualized dividend yield of 3.42%.
• The company reported $4.19 earnings per share for the last quarter, surpassing expectations, and anticipates 17.6 EPS for the current year.

New York State Common Retirement Fund trimmed its stake in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 46.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,277 shares of the credit services provider's stock after selling 2,900 shares during the period. New York State Common Retirement Fund's holdings in Federal Agricultural Mortgage were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AGM. Virtu Financial LLC acquired a new stake in Federal Agricultural Mortgage during the fourth quarter worth about $274,000. American Century Companies Inc. grew its holdings in Federal Agricultural Mortgage by 10.9% during the fourth quarter. American Century Companies Inc. now owns 220,261 shares of the credit services provider's stock worth $43,380,000 after acquiring an additional 21,670 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Federal Agricultural Mortgage during the fourth quarter worth about $394,000. LPL Financial LLC grew its holdings in Federal Agricultural Mortgage by 11.0% during the fourth quarter. LPL Financial LLC now owns 8,793 shares of the credit services provider's stock worth $1,732,000 after acquiring an additional 874 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Federal Agricultural Mortgage by 20.8% during the fourth quarter. JPMorgan Chase & Co. now owns 54,998 shares of the credit services provider's stock worth $10,832,000 after acquiring an additional 9,485 shares during the period. 68.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Federal Agricultural Mortgage

In other news, Director Eric T. Mckissack sold 728 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $192.37, for a total value of $140,045.36. Following the transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sara Louise Faivre-Davis sold 350 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $192.26, for a total value of $67,291.00. Following the completion of the transaction, the director owned 1,751 shares in the company, 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. Company insiders own 2.21% of the company's stock.

Federal Agricultural Mortgage Price Performance

AGM stock traded down $0.11 during mid-day trading on Tuesday, reaching $175.00. 2,906 shares of the company's stock were exchanged, compared to its average volume of 73,328. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99. The stock's 50 day moving average is $187.61 and its 200 day moving average is $188.83. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.53 and a quick ratio of 0.53. Federal Agricultural Mortgage Corporation has a 12-month low of $159.64 and a 12-month high of $217.14.

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

Federal Agricultural Mortgage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given 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 3.43%. Federal Agricultural Mortgage's dividend payout ratio is currently 37.08%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set 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 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.