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

BlackDiamond Wealth Management LLC lessened its holdings in Federal Agricultural Mortgage Co. (NYSE:AGM) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Avantax Advisory Services Inc. grew its holdings in Federal Agricultural Mortgage by 4.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,475 shares of the credit services provider’s stock worth $684,000 after purchasing an additional 150 shares during the period. Global Alpha Capital Management Ltd. grew its holdings in Federal Agricultural Mortgage by 22.9% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 14,036 shares of the credit services provider’s stock worth $2,764,000 after purchasing an additional 2,611 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Federal Agricultural Mortgage during the fourth quarter valued at approximately $28,914,000. Proficio Capital Partners LLC purchased a new stake in shares of Federal Agricultural Mortgage during the fourth quarter valued at approximately $2,289,000. Finally, Atria Investments Inc grew its holdings in shares of Federal Agricultural Mortgage by 9.7% during the fourth quarter. Atria Investments Inc now owns 9,578 shares of the credit services provider’s stock valued at $1,886,000 after buying an additional 843 shares during the last quarter. Hedge funds and other institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Trading Down 0.4 %

NYSE:AGM opened at $194.39 on Tuesday. The company’s 50 day moving average price is $197.15 and its 200-day moving average price is $196.05. Federal Agricultural Mortgage Co. has a 52 week low of $169.17 and a 52 week high of $217.60. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.58. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.69 and a beta of 1.11.

Federal Agricultural Mortgage (NYSE:AGM) last posted 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 net margin of 12.75% and a return on equity of 19.43%. The firm had revenue of $101.26 million for the quarter, compared to analysts’ expectations of $92.81 million. During the same quarter in the prior year, the company posted $4.10 earnings per share. On average, equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.50 per share. This is an increase from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.00 dividend on an annualized basis and a yield of 3.09%. Federal Agricultural Mortgage’s dividend payout ratio is 36.47%.

Insider Activity at Federal Agricultural Mortgage

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

Wall Street Analyst Weigh In

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

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.