Nuveen LLC Acquires New Position in Federal Agricultural Mortgage Corporation $AGM

Key Points

• Nuveen LLC invested approximately $4.67 million in the Federal Agricultural Mortgage Corporation (AGM), purchasing 24,891 shares in the first quarter.
• The company recently announced a quarterly dividend of $1.50 per share, representing a 2.9% annual yield, with a payout ratio of 35.34%.
• Federal Agricultural Mortgage reported earnings of $4.32 per share for the latest quarter, surpassing analysts' expectations and achieved revenue of $100.51 million.

Nuveen LLC purchased a new position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,891 shares of the credit services provider's stock, valued at approximately $4,667,000. Nuveen LLC owned 0.23% of Federal Agricultural Mortgage as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AGM. Captrust Financial Advisors grew its stake in shares of Federal Agricultural Mortgage by 12.4% during the 4th quarter. Captrust Financial Advisors now owns 255,198 shares of the credit services provider's stock worth $50,261,000 after acquiring an additional 28,215 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Federal Agricultural Mortgage during the 4th quarter worth $3,102,000. Cary Street Partners Financial LLC bought a new position in shares of Federal Agricultural Mortgage during the 4th quarter worth $2,215,000. GAMMA Investing LLC grew its stake in shares of Federal Agricultural Mortgage by 20,282.6% during the 1st quarter. GAMMA Investing LLC now owns 9,376 shares of the credit services provider's stock worth $1,758,000 after acquiring an additional 9,330 shares during the period. Finally, Empirical Finance LLC bought a new position in shares of Federal Agricultural Mortgage during the 1st quarter worth $1,672,000. Institutional investors own 68.03% of the company's stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their target price on Federal Agricultural Mortgage from $215.00 to $217.00 and gave the stock 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 has an average rating of "Hold" and a consensus price target of $217.00.

Federal Agricultural Mortgage Price Performance

Shares of NYSE:AGM traded up $0.51 on Friday, hitting $210.24. The company's stock had a trading volume of 48,452 shares, compared to its average volume of 72,868. The company has a 50-day simple moving average of $187.52 and a 200 day simple moving average of $187.38. Federal Agricultural Mortgage Corporation has a 1 year low of $159.64 and a 1 year high of $217.14. The company has a market capitalization of $2.30 billion, a PE ratio of 12.38, a PEG ratio of 1.08 and a beta of 1.02. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.54 and a quick ratio of 0.54.

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 for the quarter, beating the consensus estimate of $4.29 by $0.03. Federal Agricultural Mortgage had a return on equity of 18.86% and a net margin of 13.14%.The firm had revenue of $100.51 million for the quarter, compared to analysts' expectations of $96.54 million. Sell-side analysts forecast that Federal Agricultural Mortgage Corporation will post 17.6 EPS for the current fiscal 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 issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.00 annualized dividend and a dividend yield of 2.9%. Federal Agricultural Mortgage's dividend payout ratio (DPR) is presently 35.34%.

Insiders Place Their Bets

In other Federal Agricultural Mortgage news, EVP Zachary Carpenter sold 293 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $205.09, for a total value of $60,091.37. Following the sale, the executive vice president owned 10,532 shares of the company's stock, valued at $2,160,007.88. This trade represents a 2.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Bradford T. Nordholm sold 4,224 shares of the firm's 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 directly owned 32,770 shares in the company, valued at approximately $6,754,552.40. The trade was a 11.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,745 shares of company stock worth $1,380,853. 2.20% of the stock is currently owned by insiders.

About Federal Agricultural Mortgage

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.