Federal Agricultural Mortgage Corporation $AGM Shares Sold by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC trimmed its position in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 44.6% in the second quarter, Holdings Channel reports. The firm owned 3,495 shares of the credit services provider’s stock after selling 2,811 shares during the quarter. Fortis Capital Advisors LLC’s holdings in Federal Agricultural Mortgage were worth $679,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in Federal Agricultural Mortgage in the first quarter worth about $34,000. KBC Group NV acquired a new position in Federal Agricultural Mortgage in the first quarter worth about $35,000. Byrne Asset Management LLC grew its stake in Federal Agricultural Mortgage by 116.1% in the first quarter. Byrne Asset Management LLC now owns 242 shares of the credit services provider’s stock worth $45,000 after purchasing an additional 130 shares in the last quarter. AlphaQuest LLC grew its stake in Federal Agricultural Mortgage by 106.3% in the first quarter. AlphaQuest LLC now owns 751 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 387 shares in the last quarter. Finally, Dakota Wealth Management acquired a new position in Federal Agricultural Mortgage in the second quarter worth about $223,000. 68.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Federal Agricultural Mortgage

In other news, insider Gregory Ramsey sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $206.71, for a total transaction of $310,065.00. Following the completion of the transaction, the insider directly owned 3,085 shares in the company, valued at approximately $637,700.35. The trade was a 32.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Zachary Carpenter sold 293 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $205.09, for a total value of $60,091.37. Following the transaction, the executive vice president owned 10,532 shares of the company’s stock, valued at approximately $2,160,007.88. This represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,017 shares of company stock worth $1,240,807. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AGM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Federal Agricultural Mortgage in a research note on Saturday, September 27th. 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 note on Friday, August 8th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $217.00.

Federal Agricultural Mortgage Stock Performance

Shares of AGM stock opened at $162.80 on Friday. 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 business has a 50 day moving average of $187.06 and a two-hundred day moving average of $185.35. Federal Agricultural Mortgage Corporation has a 52 week low of $159.64 and a 52 week high of $217.14. The company has a market cap of $1.78 billion, a P/E ratio of 9.59, a PEG ratio of 0.85 and a beta of 0.95.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings data on Thursday, August 7th. The credit services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.03. The business had revenue of $100.51 million during the quarter, compared to the consensus estimate of $96.54 million. Federal Agricultural Mortgage had a return on equity of 18.86% and a net margin of 13.14%. As a group, analysts anticipate that Federal Agricultural Mortgage Corporation will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $1.50 per share. The ex-dividend date was Monday, September 15th. This represents a $6.00 annualized dividend and a dividend yield of 3.7%. Federal Agricultural Mortgage’s payout ratio is currently 35.34%.

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: 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.