Sanctuary Advisors LLC increased its stake in shares of Federal Agricultural Mortgage Co. (NYSE:AGM – Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,132 shares of the credit services provider’s stock after acquiring an additional 441 shares during the period. Sanctuary Advisors LLC owned about 0.12% of Federal Agricultural Mortgage worth $2,619,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in AGM. Principal Financial Group Inc. increased its stake in Federal Agricultural Mortgage by 4.5% in the 4th quarter. Principal Financial Group Inc. now owns 333,975 shares of the credit services provider’s stock valued at $65,777,000 after buying an additional 14,274 shares during the last quarter. Copeland Capital Management LLC increased its stake in Federal Agricultural Mortgage by 2.5% in the 4th quarter. Copeland Capital Management LLC now owns 297,810 shares of the credit services provider’s stock valued at $58,654,000 after buying an additional 7,283 shares during the last quarter. Captrust Financial Advisors increased its stake in Federal Agricultural Mortgage by 10.0% in the 3rd quarter. Captrust Financial Advisors now owns 226,983 shares of the credit services provider’s stock valued at $42,539,000 after buying an additional 20,603 shares during the last quarter. Wellington Management Group LLP increased its stake in Federal Agricultural Mortgage by 5.9% in the 3rd quarter. Wellington Management Group LLP now owns 182,569 shares of the credit services provider’s stock valued at $34,215,000 after buying an additional 10,194 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in Federal Agricultural Mortgage by 10.6% in the 3rd quarter. Rice Hall James & Associates LLC now owns 172,129 shares of the credit services provider’s stock valued at $32,259,000 after buying an additional 16,487 shares during the last quarter. 68.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Bradford T. Nordholm sold 5,073 shares of Federal Agricultural Mortgage stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $213.37, for a total value of $1,082,426.01. Following the completion of the transaction, the chief executive officer now owns 41,104 shares of the company’s stock, valued at $8,770,360.48. This trade represents a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.58% of the company’s stock.
Federal Agricultural Mortgage Stock Up 6.4 %
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last issued its quarterly earnings results on Friday, February 21st. The credit services provider reported $4.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.17 by $0.46. Federal Agricultural Mortgage had a net margin of 12.59% and a return on equity of 20.14%. The firm had revenue of $101.26 million for the quarter, compared to analyst estimates of $92.81 million. During the same period in the previous year, the business earned $4.10 EPS. On average, equities analysts predict that Federal Agricultural Mortgage Co. will post 15.85 EPS for the current fiscal year.
Federal Agricultural Mortgage Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is 36.01%.
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.
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