Corebridge Financial Inc. Sells 67 Shares of Federal Agricultural Mortgage Corporation $AGM

Corebridge Financial Inc. reduced its position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM) by 1.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,480 shares of the credit services provider’s stock after selling 67 shares during the quarter. Corebridge Financial Inc.’s holdings in Federal Agricultural Mortgage were worth $840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AGM. Price T Rowe Associates Inc. MD raised its holdings in Federal Agricultural Mortgage by 8.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,388 shares of the credit services provider’s stock worth $1,456,000 after purchasing an additional 597 shares during the last quarter. Northern Trust Corp raised its holdings in Federal Agricultural Mortgage by 6.2% during the 4th quarter. Northern Trust Corp now owns 129,874 shares of the credit services provider’s stock worth $25,579,000 after purchasing an additional 7,593 shares during the last quarter. Algert Global LLC bought a new stake in Federal Agricultural Mortgage during the 4th quarter worth about $352,000. Ameriprise Financial Inc. bought a new stake in Federal Agricultural Mortgage during the 4th quarter worth about $357,000. Finally, Baird Financial Group Inc. raised its holdings in Federal Agricultural Mortgage by 0.8% during the 4th quarter. Baird Financial Group Inc. now owns 17,872 shares of the credit services provider’s stock worth $3,520,000 after purchasing an additional 135 shares during the last quarter. 68.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Federal Agricultural Mortgage news, insider Gregory Ramsey sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $206.71, for a total value of $310,065.00. Following the completion of the transaction, the insider directly owned 3,085 shares of the company’s stock, valued at approximately $637,700.35. The trade was a 32.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Zachary Carpenter sold 293 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $205.09, for a total value of $60,091.37. Following the completion of the transaction, the executive vice president directly owned 10,532 shares of the company’s stock, valued at approximately $2,160,007.88. The trade was a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,745 shares of company stock worth $1,380,853. Company insiders own 2.20% of the company’s stock.

Federal Agricultural Mortgage Trading Down 0.3%

NYSE AGM opened at $205.25 on Friday. The stock has a 50-day simple moving average of $188.61 and a 200 day simple moving average of $187.71. The company has a market capitalization of $2.24 billion, a PE ratio of 12.09, a P/E/G ratio of 1.06 and a beta of 1.01. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.95. Federal Agricultural Mortgage Corporation has a 12 month low of $159.64 and a 12 month high of $217.14.

Federal Agricultural Mortgage (NYSE:AGM) last released its quarterly earnings data on Thursday, August 7th. The credit services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $0.03. The business had revenue of $100.51 million during the quarter, compared to the consensus estimate of $96.54 million. Federal Agricultural Mortgage had a return on equity of 18.86% and a net margin of 13.14%. Research analysts forecast that Federal Agricultural Mortgage Corporation will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, September 15th. Federal Agricultural Mortgage’s dividend payout ratio is currently 35.34%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price objective on Federal Agricultural Mortgage from $215.00 to $217.00 and gave the company a “market perform” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $217.00.

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.