Federal Agricultural Mortgage Corp. (NYSE:AGM) Position Boosted by Russell Investments Group Ltd.
Russell Investments Group Ltd. lifted its holdings in Federal Agricultural Mortgage Corp. (NYSE:AGM) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,036 shares of the credit services provider’s stock after purchasing an additional 8,402 shares during the period. Russell Investments Group Ltd. owned about 1.03% of Federal Agricultural Mortgage worth $7,993,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AGM. BNP Paribas Arbitrage SA boosted its holdings in Federal Agricultural Mortgage by 109.4% during the first 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. SG Americas Securities LLC acquired a new stake in shares of Federal Agricultural Mortgage during the 1st quarter valued at $137,000. Boston Partners boosted its stake in shares of Federal Agricultural Mortgage by 3.2% during the 1st quarter. Boston Partners now owns 95,492 shares of the credit services provider’s stock worth $6,916,000 after acquiring an additional 2,945 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of 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 acquiring an additional 769 shares in the last quarter. Finally, Affinity Investment Advisors LLC grew its holdings in shares of Federal Agricultural Mortgage by 15.2% in the 1st quarter. Affinity Investment Advisors LLC now owns 5,542 shares of the credit services provider’s stock worth $401,000 after acquiring an additional 732 shares during the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.
Shares of Federal Agricultural Mortgage stock traded up $0.94 on Wednesday, reaching $84.00. 1,020 shares of the company were exchanged, compared to its average volume of 42,771. The stock has a fifty day moving average price of $78.71 and a 200-day moving average price of $75.47. The firm has a market capitalization of $898.07 million, a price-to-earnings ratio of 10.19 and a beta of 1.19. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.95. Federal Agricultural Mortgage Corp. has a fifty-two week low of $55.64 and a fifty-two week high of $84.58.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, September 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%.
In related news, Director James R. Engebretsen sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. 2.46% of the stock is owned by insiders.
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: 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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