Federal Agricultural Mortgage (NYSE:AGM) Sets New 52-Week High at $84.51

Federal Agricultural Mortgage Corp. (NYSE:AGM)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $84.51 and last traded at $83.94, with a volume of 45003 shares trading hands. The stock had previously closed at $80.57.

The firm has a market cap of $898.07 million, a price-to-earnings ratio of 10.19 and a beta of 1.19. The firm’s 50 day moving average price is $78.71 and its two-hundred day moving average price is $75.47. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.38 and a quick ratio of 0.38.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings results on Thursday, August 1st. The credit services provider reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.14. The firm had revenue of $55.79 million for the quarter. Federal Agricultural Mortgage had a return on equity of 20.01% and a net margin of 18.82%.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.80 dividend on an annualized basis and a yield of 3.34%.

In other Federal Agricultural Mortgage news, Director James R. Engebretsen sold 500 shares of Federal Agricultural Mortgage stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $79.97, for a total value of $39,985.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.46% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AGM. Panagora Asset Management Inc. acquired a new position in shares of Federal Agricultural Mortgage during the second quarter worth about $520,000. Copeland Capital Management LLC boosted its holdings in Federal Agricultural Mortgage by 20.0% in the 2nd quarter. Copeland Capital Management LLC now owns 252,359 shares of the credit services provider’s stock valued at $18,336,000 after purchasing an additional 42,026 shares in the last quarter. HGK Asset Management Inc. increased its position in Federal Agricultural Mortgage by 19.5% during the 2nd quarter. HGK Asset Management Inc. now owns 6,842 shares of the credit services provider’s stock worth $497,000 after purchasing an additional 1,118 shares during the period. California Public Employees Retirement System increased its position in Federal Agricultural Mortgage by 1.7% during the 1st quarter. California Public Employees Retirement System now owns 45,518 shares of the credit services provider’s stock worth $3,297,000 after purchasing an additional 769 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Federal Agricultural Mortgage by 109.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,065 shares of the credit services provider’s stock worth $150,000 after buying an additional 1,079 shares in the last quarter. Institutional investors own 62.68% of the company’s stock.

About Federal Agricultural Mortgage (NYSE:AGM)

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit. The Farm & Ranch segment purchases and retains eligible mortgage loans that are secured by first liens on agricultural real estate; securitizes eligible mortgage loans, and guarantees the timely payment of principal and interest on securities representing interests in or obligations secured by pools of mortgage loans; and issues long-term standby purchase commitments (LTSPC) on designated eligible mortgage loans.

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