Envestnet Asset Management Inc. Buys 786 Shares of Federal Agricultural Mortgage Corporation (NYSE:AGM)

Envestnet Asset Management Inc. raised its stake in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 72,602 shares of the credit services provider’s stock after purchasing an additional 786 shares during the period. Envestnet Asset Management Inc. owned 0.67% of Federal Agricultural Mortgage worth $13,614,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Federal Agricultural Mortgage in the first quarter valued at about $310,000. Ameriprise Financial Inc. purchased a new stake in shares of Federal Agricultural Mortgage in the fourth quarter worth about $357,000. GAMMA Investing LLC lifted its position in shares of Federal Agricultural Mortgage by 20,282.6% in the first quarter. GAMMA Investing LLC now owns 9,376 shares of the credit services provider’s stock worth $1,758,000 after buying an additional 9,330 shares in the last quarter. VELA Investment Management LLC lifted its position in shares of Federal Agricultural Mortgage by 48.3% in the first quarter. VELA Investment Management LLC now owns 12,982 shares of the credit services provider’s stock worth $2,434,000 after buying an additional 4,228 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Federal Agricultural Mortgage by 11.1% in the fourth quarter. Wells Fargo & Company MN now owns 63,206 shares of the credit services provider’s stock worth $12,448,000 after buying an additional 6,317 shares in the last quarter. Institutional investors own 68.03% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $215.00 target price (down from $230.00) on shares of Federal Agricultural Mortgage in a research report on Monday, May 12th.

Insider Activity at Federal Agricultural Mortgage

In other Federal Agricultural Mortgage news, Director Sara Louise Faivre-Davis sold 350 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $192.26, for a total transaction of $67,291.00. Following the sale, the director directly owned 1,751 shares of the company’s stock, valued at $336,647.26. The trade was a 16.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric T. Mckissack sold 728 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $192.37, for a total value of $140,045.36. Following the sale, the director directly owned 2,357 shares in the company, valued at $453,416.09. The trade was a 23.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Federal Agricultural Mortgage Price Performance

NYSE:AGM opened at $174.37 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $1.91 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.46 and a beta of 0.99. Federal Agricultural Mortgage Corporation has a 12 month low of $159.64 and a 12 month high of $217.60. The business’s 50-day moving average is $189.88 and its 200 day moving average is $189.47.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings data on Friday, May 9th. The credit services provider reported $4.19 earnings per share for the quarter, topping the consensus estimate of $4.00 by $0.19. Federal Agricultural Mortgage had a return on equity of 18.77% and a net margin of 12.65%. The company had revenue of $96.79 million for the quarter, compared to analysts’ expectations of $94.33 million. On average, equities research analysts forecast that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.50 per share. The ex-dividend date was Monday, June 16th. This represents a $6.00 annualized dividend and a yield of 3.44%. Federal Agricultural Mortgage’s payout ratio is currently 37.08%.

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.