The Manufacturers Life Insurance Company Trims Stock Holdings in Federal Agricultural Mortgage Co. (NYSE:AGM)

The Manufacturers Life Insurance Company lessened its stake in shares of Federal Agricultural Mortgage Co. (NYSE:AGM) by 39.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,531 shares of the credit services provider’s stock after selling 13,851 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.20% of Federal Agricultural Mortgage worth $4,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AGM. nVerses Capital LLC acquired a new stake in Federal Agricultural Mortgage in the 2nd quarter worth about $36,000. Fifth Third Bancorp boosted its position in shares of Federal Agricultural Mortgage by 160.5% in the second quarter. Fifth Third Bancorp now owns 521 shares of the credit services provider’s stock worth $94,000 after acquiring an additional 321 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Federal Agricultural Mortgage in the second quarter valued at approximately $108,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Federal Agricultural Mortgage during the second quarter worth approximately $181,000. Finally, Cetera Advisors LLC purchased a new position in Federal Agricultural Mortgage during the first quarter worth approximately $205,000. Institutional investors and hedge funds own 68.03% of the company’s stock.

Federal Agricultural Mortgage Stock Performance

NYSE AGM opened at $213.38 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.49 and a quick ratio of 0.49. Federal Agricultural Mortgage Co. has a 1-year low of $165.50 and a 1-year high of $217.60. The firm has a market capitalization of $2.32 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.92 and a beta of 1.07. The business’s 50-day simple moving average is $196.63 and its 200-day simple moving average is $189.72.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings data on Monday, November 4th. The credit services provider reported $4.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.14 by ($0.04). The firm had revenue of $411.40 million during the quarter, compared to analyst estimates of $92.15 million. Federal Agricultural Mortgage had a net margin of 12.59% and a return on equity of 20.14%. During the same period last year, the business earned $4.13 EPS. Equities analysts predict that Federal Agricultural Mortgage Co. will post 15.85 EPS for the current year.

Federal Agricultural Mortgage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Monday, December 16th. Federal Agricultural Mortgage’s dividend payout ratio is currently 36.01%.

Insider Transactions at Federal Agricultural Mortgage

In other news, CEO Bradford T. Nordholm sold 5,073 shares of the stock in a transaction on Thursday, December 5th. The stock was 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 approximately $8,770,360.48. This represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Stephen P. Mullery sold 2,472 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $182.28, for a total value of $450,596.16. Following the transaction, the executive vice president now directly owns 22,045 shares of the company’s stock, valued at approximately $4,018,362.60. The trade was a 10.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,170 shares of company stock worth $2,282,215. 2.58% of the stock is currently owned by insiders.

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.