Weybosset Research & Management LLC Reduces Stake in Federal Agricultural Mortgage Co. (NYSE:AGM)

Weybosset Research & Management LLC trimmed its stake in Federal Agricultural Mortgage Co. (NYSE:AGM) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,859 shares of the credit services provider’s stock after selling 2,064 shares during the quarter. Federal Agricultural Mortgage makes up about 6.5% of Weybosset Research & Management LLC’s portfolio, making the stock its 4th biggest holding. Weybosset Research & Management LLC owned 1.13% of Federal Agricultural Mortgage worth $17,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AGM. Bank of New York Mellon Corp increased its holdings in shares of Federal Agricultural Mortgage by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 80,074 shares of the credit services provider’s stock worth $10,665,000 after purchasing an additional 683 shares during the period. MAI Capital Management acquired a new position in Federal Agricultural Mortgage in the 1st quarter valued at $220,000. Fortis Capital Advisors LLC bought a new stake in shares of Federal Agricultural Mortgage during the 4th quarter valued at $2,772,000. Strs Ohio bought a new position in shares of Federal Agricultural Mortgage in the first quarter worth $279,000. Finally, Citizens Financial Group Inc RI acquired a new position in Federal Agricultural Mortgage in the first quarter valued at about $259,000. Institutional investors and hedge funds own 66.46% of the company’s stock.

Wall Street Analysts Forecast Growth

AGM has been the topic of several recent analyst reports. Keefe, Bruyette & Woods assumed coverage on shares of Federal Agricultural Mortgage in a report on Tuesday, September 5th. They issued an “outperform” rating on the stock. StockNews.com assumed coverage on shares of Federal Agricultural Mortgage in a research report on Thursday, August 17th. They set a “hold” rating for the company.

Insiders Place Their Bets

In other news, EVP Stephen P. Mullery sold 1,655 shares of Federal Agricultural Mortgage stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $178.24, for a total transaction of $294,987.20. Following the sale, the executive vice president now directly owns 21,756 shares of the company’s stock, valued at $3,877,789.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Federal Agricultural Mortgage news, CEO Bradford T. Nordholm sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $178.71, for a total value of $1,340,325.00. Following the completion of the transaction, the chief executive officer now directly owns 43,910 shares in the company, valued at approximately $7,847,156.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Stephen P. Mullery sold 1,655 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $178.24, for a total transaction of $294,987.20. Following the transaction, the executive vice president now directly owns 21,756 shares of the company’s stock, valued at approximately $3,877,789.44. The disclosure for this sale can be found here. Insiders sold a total of 9,340 shares of company stock valued at $1,666,807 in the last 90 days. Corporate insiders own 2.21% of the company’s stock.

Federal Agricultural Mortgage Stock Down 0.9 %

AGM stock opened at $164.22 on Tuesday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 11.79 and a beta of 1.06. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.63. The firm has a 50-day moving average price of $164.77 and a 200-day moving average price of $146.31. Federal Agricultural Mortgage Co. has a 12 month low of $97.76 and a 12 month high of $180.16.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings data on Monday, August 7th. The credit services provider reported $3.86 EPS for the quarter, beating the consensus estimate of $3.10 by $0.76. The business had revenue of $84.55 million during the quarter, compared to the consensus estimate of $77.32 million. Federal Agricultural Mortgage had a net margin of 15.69% and a return on equity of 21.97%. As a group, equities research analysts anticipate that Federal Agricultural Mortgage Co. will post 14.93 EPS for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.68%. Federal Agricultural Mortgage’s dividend payout ratio is currently 31.59%.

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 Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy segments. 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.