Federal Agricultural Mortgage (NYSE:AGM) Hits New 1-Year High at $162.34

Posted by Defense World Staff on Aug 2nd, 2023

Federal Agricultural Mortgage Co. (NYSE:AGM – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $162.34 and last traded at $161.30, with a volume of 3140 shares. The stock had previously closed at $160.06.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Federal Agricultural Mortgage in a report on Thursday, May 18th. They issued a “hold” rating on the stock.

Federal Agricultural Mortgage Stock Performance

The firm’s fifty day moving average price is $146.71 and its two-hundred day moving average price is $137.89. The stock has a market capitalization of $1.76 billion, a PE ratio of 11.77 and a beta of 1.04. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.76.

Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last announced its earnings results 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. Federal Agricultural Mortgage had a net margin of 18.83% and a return on equity of 21.45%. The company had revenue of $84.41 million for the quarter. As a group, equities research analysts forecast that Federal Agricultural Mortgage Co. will post 13 EPS for the current year.

Insider Activity at Federal Agricultural Mortgage

In related news, Director Chester J. Culver sold 300 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $148.54, for a total value of $44,562.00. Following the sale, the director now directly owns 2,836 shares in the company, valued at approximately $421,259.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Chester J. Culver sold 300 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $148.54, for a total transaction of $44,562.00. Following the completion of the transaction, the director now directly owns 2,836 shares of the company’s stock, valued at $421,259.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Everett M. Dobrinski acquired 582 shares of the stock in a transaction dated Thursday, May 11th. The shares were bought 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 of the company’s stock, valued at approximately $821,697.75. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 3,214 shares of company stock worth $473,815. Company insiders own 2.58% of the company’s stock.

Institutional Investors Weigh In On Federal Agricultural Mortgage

Several large investors have recently modified their holdings of AGM. New York State Teachers Retirement System purchased a new stake in shares of Federal Agricultural Mortgage during the fourth quarter worth approximately $91,000. Fortis Capital Advisors LLC acquired a new stake in Federal Agricultural Mortgage in the fourth quarter valued at $2,772,000. Strs Ohio acquired a new stake in shares of Federal Agricultural Mortgage during the first quarter valued at $279,000. Bank of New York Mellon Corp boosted its stake in shares of Federal Agricultural Mortgage by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 86,019 shares of the credit services provider’s stock valued at $8,527,000 after acquiring an additional 726 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in Federal Agricultural Mortgage in the 4th quarter worth about $206,000. 66.22% of the stock is owned by institutional investors and hedge funds.

Federal Agricultural Mortgage Company Profile

(Get 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.