BlackDiamond Wealth Management LLC Trims Position in Federal Agricultural Mortgage Co. (NYSE:AGM)

BlackDiamond Wealth Management LLC decreased its position in shares of Federal Agricultural Mortgage Co. (NYSE:AGM) by 17.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,942 shares of the credit services provider’s stock after selling 629 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Federal Agricultural Mortgage were worth $580,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Federal Agricultural Mortgage by 1.8% during the third quarter. Victory Capital Management Inc. now owns 3,864 shares of the credit services provider’s stock valued at $724,000 after acquiring an additional 70 shares during the period. Thrivent Financial for Lutherans bought a new stake in Federal Agricultural Mortgage during the 3rd quarter valued at approximately $3,949,000. Quest Partners LLC lifted its holdings in Federal Agricultural Mortgage by 141.8% in the 3rd quarter. Quest Partners LLC now owns 5,022 shares of the credit services provider’s stock worth $941,000 after purchasing an additional 2,945 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its stake in Federal Agricultural Mortgage by 10.3% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 11,425 shares of the credit services provider’s stock worth $2,141,000 after purchasing an additional 1,065 shares during the period. Finally, Moors & Cabot Inc. grew its holdings in Federal Agricultural Mortgage by 7.8% during the 3rd quarter. Moors & Cabot Inc. now owns 1,266 shares of the credit services provider’s stock valued at $237,000 after buying an additional 92 shares in the last quarter. Institutional investors own 68.03% of the company’s stock.

Insider Buying and Selling

In related news, CFO Aparna Ramesh sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $201.86, for a total value of $201,860.00. Following the sale, the chief financial officer now owns 9,242 shares in the company, valued at approximately $1,865,590.12. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mitchell A. Johnson sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $205.21, for a total transaction of $513,025.00. Following the completion of the sale, the director now owns 8,644 shares in the company, valued at $1,773,835.24. This represents a 22.43 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Federal Agricultural Mortgage from $205.00 to $230.00 and gave the stock a “market perform” rating in a report on Monday, February 24th.

Federal Agricultural Mortgage Stock Down 0.4 %

AGM opened at $194.39 on Tuesday. The company has a market capitalization of $2.12 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.69 and a beta of 1.11. The firm has a 50-day simple moving average of $197.15 and a two-hundred day simple moving average of $196.05. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.58. Federal Agricultural Mortgage Co. has a 52 week low of $169.17 and a 52 week high of $217.60.

Federal Agricultural Mortgage (NYSE:AGM) last announced its quarterly earnings results on Friday, February 21st. The credit services provider reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $4.17 by $0.46. Federal Agricultural Mortgage had a return on equity of 19.43% and a net margin of 12.75%. The company had revenue of $101.26 million during the quarter, compared to analyst estimates of $92.81 million. During the same period in the prior year, the company earned $4.10 earnings per share. Analysts forecast that Federal Agricultural Mortgage Co. will post 17.6 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, March 14th. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40. Federal Agricultural Mortgage’s payout ratio is currently 36.47%.

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.