VELA Investment Management LLC Increases Stock Holdings in Federal Agricultural Mortgage Corporation (NYSE:AGM)

VELA Investment Management LLC raised its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 48.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,982 shares of the credit services provider’s stock after buying an additional 4,228 shares during the quarter. VELA Investment Management LLC’s holdings in Federal Agricultural Mortgage were worth $2,434,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV purchased a new position in Federal Agricultural Mortgage in the 1st quarter valued at approximately $35,000. Byrne Asset Management LLC grew its position in shares of Federal Agricultural Mortgage by 116.1% during the first quarter. Byrne Asset Management LLC now owns 242 shares of the credit services provider’s stock worth $45,000 after acquiring an additional 130 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Federal Agricultural Mortgage in the first quarter valued at about $54,000. Pictet Asset Management Holding SA acquired a new stake in shares of Federal Agricultural Mortgage during the fourth quarter worth about $208,000. Finally, Focus Partners Wealth purchased a new position in shares of Federal Agricultural Mortgage during the fourth quarter worth about $237,000. Institutional investors and hedge funds own 68.03% of the company’s stock.

Insider Activity at Federal Agricultural Mortgage

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

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reissued 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 Stock Performance

NYSE AGM opened at $201.02 on Friday. The business’s 50-day simple moving average is $188.14 and its 200-day simple moving average is $190.32. 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 Corporation has a 1-year low of $159.64 and a 1-year high of $217.60. The firm has a market capitalization of $2.20 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.66 and a beta of 0.99.

Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings data on Friday, May 9th. The credit services provider reported $4.19 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $0.19. The firm had revenue of $96.79 million for the quarter, compared to the consensus estimate of $94.33 million. Federal Agricultural Mortgage had a net margin of 12.65% and a return on equity of 18.77%. Equities analysts predict that Federal Agricultural Mortgage Corporation will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Dividend Announcement

The company 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. This represents a $6.00 annualized dividend and a yield of 2.98%. The ex-dividend date was Monday, June 16th. 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.