Sei Investments Co. Raises Holdings in Federal Agricultural Mortgage Corporation $AGM

Key Points

• Sei Investments Co. increased its holdings in Federal Agricultural Mortgage by 15.0%, acquiring an additional 1,980 shares, bringing its total to 15,154 shares valued at approximately $2.85 million.
• Federal Agricultural Mortgage Corporation reported earnings of $4.32 per share, exceeding analyst expectations, and has a projected earnings per share of 17.6 for the current fiscal year.
• The company announced a quarterly dividend of $1.50, representing an annualized yield of 3.2%, with the ex-dividend date set for September 15th.

Sei Investments Co. lifted its holdings in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,154 shares of the credit services provider's stock after buying an additional 1,980 shares during the quarter. Sei Investments Co. owned approximately 0.14% of Federal Agricultural Mortgage worth $2,846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in shares of Federal Agricultural Mortgage by 9.5% in the first quarter. Russell Investments Group Ltd. now owns 41,214 shares of the credit services provider's stock worth $7,728,000 after buying an additional 3,576 shares during the period. Nuveen LLC purchased a new stake in shares of Federal Agricultural Mortgage in the first quarter worth approximately $4,667,000. Global Alpha Capital Management Ltd. raised its holdings in shares of Federal Agricultural Mortgage by 7.6% in the first quarter. Global Alpha Capital Management Ltd. now owns 15,107 shares of the credit services provider's stock worth $2,833,000 after buying an additional 1,071 shares during the period. Cynosure Group LLC raised its holdings in shares of Federal Agricultural Mortgage by 11.2% in the first quarter. Cynosure Group LLC now owns 1,677 shares of the credit services provider's stock worth $314,000 after buying an additional 169 shares during the period. Finally, Deutsche Bank AG increased its holdings in 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 period. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Federal Agricultural Mortgage

In other news, Director Eric T. Mckissack sold 728 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $192.37, for a total value of $140,045.36. Following the sale, the director owned 2,357 shares in the company, valued at $453,416.09. This represents a 23.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.20% of the company's stock.

Federal Agricultural Mortgage Stock Down 0.3%

Shares of AGM traded down $0.51 during mid-day trading on Thursday, hitting $195.49. 11,642 shares of the company traded hands, compared to its average volume of 72,768. Federal Agricultural Mortgage Corporation has a 1-year low of $159.64 and a 1-year high of $217.14. 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 company has a market capitalization of $2.14 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.01 and a beta of 1.02. The business has a 50 day moving average of $185.05 and a 200 day moving average of $187.13.

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, beating analysts' consensus estimates of $4.29 by $0.03. The business had revenue of $100.51 million for the quarter, compared to analyst estimates of $96.54 million. Federal Agricultural Mortgage had a return on equity of 18.86% and a net margin of 13.14%. Equities research analysts anticipate that Federal Agricultural Mortgage Corporation will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.1%. Federal Agricultural Mortgage's dividend payout ratio is currently 35.34%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their target price 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 research analyst has rated the stock with a Hold rating, According to MarketBeat, Federal Agricultural Mortgage currently has an average rating of "Hold" and a consensus target price of $217.00.

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.