Bank of New York Mellon Corp Sells 344 Shares of Federal Agricultural Mortgage Corporation (NYSE:AGM)

Bank of New York Mellon Corp lowered its position in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,688 shares of the credit services provider’s stock after selling 344 shares during the period. Bank of New York Mellon Corp owned about 0.47% of Federal Agricultural Mortgage worth $9,692,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Federal Agricultural Mortgage in the 4th quarter valued at $28,914,000. Captrust Financial Advisors lifted its position in shares of Federal Agricultural Mortgage by 12.4% in the fourth quarter. Captrust Financial Advisors now owns 255,198 shares of the credit services provider’s stock worth $50,261,000 after purchasing an additional 28,215 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Federal Agricultural Mortgage by 10.9% in the 4th quarter. American Century Companies Inc. now owns 220,261 shares of the credit services provider’s stock valued at $43,380,000 after acquiring an additional 21,670 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Federal Agricultural Mortgage during the 4th quarter worth approximately $3,102,000. Finally, Cary Street Partners Financial LLC bought a new stake in Federal Agricultural Mortgage during the fourth quarter worth $2,215,000. 68.03% of the stock is currently owned by institutional investors.

Federal Agricultural Mortgage Price Performance

NYSE:AGM opened at $174.59 on Tuesday. The company has a market cap of $1.91 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.44 and a beta of 0.99. The firm’s fifty day moving average price is $189.88 and its two-hundred day moving average price is $189.40. Federal Agricultural Mortgage Corporation has a one year low of $159.64 and a one year high of $217.60. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.53 and a quick ratio of 0.53.

Federal Agricultural Mortgage (NYSE:AGM) last released its quarterly earnings results on Friday, May 9th. The credit services provider reported $4.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $96.79 million during the quarter, compared to the consensus estimate of $94.33 million. Equities analysts expect that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current year.

Federal Agricultural Mortgage Announces Dividend

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

Insider Buying and Selling

In other Federal Agricultural Mortgage news, Director Sara Louise Faivre-Davis sold 350 shares of the stock in a transaction dated Thursday, May 15th. The shares were 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 in the company, valued at $336,647.26. This represents a 16.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric T. Mckissack sold 728 shares of the company’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 transaction of $140,045.36. Following the sale, the director directly owned 2,357 shares of the company’s stock, valued at approximately $453,416.09. This trade represents a 23.60% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.

Wall Street Analyst Weigh In

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

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.