Rhumbline Advisers lessened its position in Federal Agricultural Mortgage Co. (NYSE:AGM) by 13.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,207 shares of the credit services provider’s stock after selling 1,562 shares during the quarter. Rhumbline Advisers’ holdings in Federal Agricultural Mortgage were worth $799,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in AGM. New York State Common Retirement Fund lifted its holdings in shares of Federal Agricultural Mortgage by 9.5% in the 3rd quarter. New York State Common Retirement Fund now owns 16,815 shares of the credit services provider’s stock worth $1,223,000 after acquiring an additional 1,464 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Federal Agricultural Mortgage by 15.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 14,715 shares of the credit services provider’s stock worth $1,071,000 after acquiring an additional 1,916 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Federal Agricultural Mortgage by 52.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 69,790 shares of the credit services provider’s stock worth $5,075,000 after acquiring an additional 23,900 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Federal Agricultural Mortgage in the 3rd quarter worth about $1,109,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Federal Agricultural Mortgage by 13.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 58,820 shares of the credit services provider’s stock worth $4,379,000 after acquiring an additional 6,888 shares during the last quarter. Hedge funds and other institutional investors own 64.42% of the company’s stock.
Several equities research analysts have recently issued reports on AGM shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $86.00 target price on shares of Federal Agricultural Mortgage in a report on Friday, December 22nd. ValuEngine upgraded shares of Federal Agricultural Mortgage from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Sidoti upgraded shares of Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Federal Agricultural Mortgage presently has an average rating of “Hold” and a consensus target price of $93.50.
Federal Agricultural Mortgage (NYSE:AGM) last announced its quarterly earnings data on Thursday, March 8th. The credit services provider reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.14. Federal Agricultural Mortgage had a net margin of 20.21% and a return on equity of 15.12%. The company had revenue of $43.96 million during the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Monday, March 19th were issued a dividend of $0.58 per share. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, March 16th. This represents a $2.32 dividend on an annualized basis and a yield of 2.67%.
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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: Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit. The Farm & Ranch segment purchases and retains eligible mortgage loans that are secured by first liens on agricultural real estate; securitizes eligible mortgage loans, and guarantees the timely payment of principal and interest on securities representing interests in or obligations secured by pools of mortgage loans; and issues long-term standby purchase commitments on designated eligible mortgage loans.
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