Naples Global Advisors LLC Acquires New Position in Federal Agricultural Mortgage Co. (NYSE:AGM)

Posted by Defense World Staff on Jun 29th, 2023

Naples Global Advisors LLC acquired a new position in shares of Federal Agricultural Mortgage Co. (NYSE:AGM – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,538 shares of the credit services provider’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AGM. New York State Teachers Retirement System acquired a new stake in shares of Federal Agricultural Mortgage in the 4th quarter worth approximately $91,000. Fortis Capital Advisors LLC purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter valued at $2,772,000. Envestnet Asset Management Inc. raised its stake in shares of Federal Agricultural Mortgage by 0.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 43,364 shares of the credit services provider’s stock worth $4,299,000 after buying an additional 280 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Federal Agricultural Mortgage by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 86,019 shares of the credit services provider’s stock worth $8,527,000 after buying an additional 726 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in Federal Agricultural Mortgage in the 4th quarter valued at about $206,000. 66.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AGM. Sidoti raised shares of Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating in a report on Wednesday, March 29th. StockNews.com initiated coverage on shares of Federal Agricultural Mortgage in a research note on Thursday, May 18th. They issued a “hold” rating for the company.

Insider Buying and Selling at Federal Agricultural Mortgage

In other news, Director Everett M. Dobrinski acquired 582 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was acquired at an average cost of $128.25 per share, for a total transaction of $74,641.50. Following the acquisition, the director now directly owns 6,407 shares in the company, valued at approximately $821,697.75. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Brian M. Brinch sold 1,058 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $150.72, for a total value of $159,461.76. Following the completion of the sale, the senior vice president now owns 8,705 shares of the company’s stock, valued at $1,312,017.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Everett M. Dobrinski purchased 582 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average cost of $128.25 per share, with a total value of $74,641.50. Following the completion of the transaction, the director now owns 6,407 shares in the company, valued at approximately $821,697.75. The disclosure for this purchase can be found here. Insiders have sold a total of 3,214 shares of company stock worth $473,815 in the last quarter. 2.21% of the stock is owned by insiders.

Federal Agricultural Mortgage Stock Up 0.8 %

Shares of NYSE AGM opened at $141.95 on Thursday. The firm has a market cap of $1.54 billion, a P/E ratio of 10.26 and a beta of 1.03. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.46 and a current ratio of 0.46. Federal Agricultural Mortgage Co. has a 1 year low of $92.43 and a 1 year high of $153.54. The firm’s 50 day moving average price is $138.23 and its 200 day moving average price is $132.03.

Federal Agricultural Mortgage (NYSE:AGM – Free Report) last posted its quarterly earnings data on Tuesday, May 9th. The credit services provider reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.60. The business had revenue of $84.41 million for the quarter. Federal Agricultural Mortgage had a return on equity of 21.45% and a net margin of 18.83%. As a group, sell-side analysts anticipate that Federal Agricultural Mortgage Co. will post 13 earnings per share for the current year.

Federal Agricultural Mortgage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Thursday, June 15th. Federal Agricultural Mortgage’s dividend payout ratio is currently 31.81%.

Federal Agricultural Mortgage Company Profile

(Free Report)

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy segments. 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.