Russell Investments Group Ltd. Buys 3,576 Shares of Federal Agricultural Mortgage Corporation $AGM

Key Points

• Russell Investments Group Ltd. increased its holdings in Federal Agricultural Mortgage Corporation by 9.5%, acquiring an additional 3,576 shares and now owns 41,214 shares valued at approximately $7.73 million.
• Federal Agricultural Mortgage's quarterly earnings surpassed analysts' estimates, reporting $4.32 EPS against a consensus of $4.29, and revenue of $100.51 million compared to expectations of $96.54 million.
• The company announced a quarterly dividend of $1.50 per share, set to be paid on September 30th, representing an annualized dividend yield of 3.1%.

Russell Investments Group Ltd. boosted its stake in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,214 shares of the credit services provider's stock after acquiring an additional 3,576 shares during the quarter. Russell Investments Group Ltd. owned 0.38% of Federal Agricultural Mortgage worth $7,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Federal Agricultural Mortgage during the 1st quarter worth about $35,000. Byrne Asset Management LLC increased its holdings in shares of Federal Agricultural Mortgage by 116.1% during the first quarter. Byrne Asset Management LLC now owns 242 shares of the credit services provider's stock worth $45,000 after buying an additional 130 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Federal Agricultural Mortgage in the first quarter valued at approximately $54,000. Focus Partners Wealth acquired a new position in shares of Federal Agricultural Mortgage in the 4th quarter worth approximately $237,000. Finally, Teacher Retirement System of Texas bought a new stake in Federal Agricultural Mortgage during the 1st quarter worth approximately $257,000. Institutional investors and hedge funds own 68.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Federal Agricultural Mortgage Trading Up 0.1%

Shares of AGM traded up $0.24 during trading hours on Monday, hitting $204.30. 62,935 shares of the stock traded hands, compared to its average volume of 70,235. The business has a fifty day moving average of $185.82 and a 200-day moving average of $187.06. The firm has a market capitalization of $2.23 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. Federal Agricultural Mortgage Corporation has a 1-year low of $159.64 and a 1-year high of $217.14. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.95.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The credit services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.03. The firm had revenue of $100.51 million during the quarter, compared to analysts' expectations of $96.54 million. Federal Agricultural Mortgage had a return on equity of 18.86% and a net margin of 13.14%. 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 35.34%.

Insider Buying and Selling

In other Federal Agricultural Mortgage news, Director Eric T. Mckissack sold 728 shares of Federal Agricultural Mortgage stock in a transaction on Monday, June 9th. The shares were sold at an average price of $192.37, for a total transaction of $140,045.36. Following the completion of the sale, the director owned 2,357 shares of the company's stock, valued at approximately $453,416.09. The trade was a 23.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.21% 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.