Thrivent Financial for Lutherans Grows Stock Position in Federal Agricultural Mortgage Co. (NYSE:AGM)

Thrivent Financial for Lutherans lifted its stake in Federal Agricultural Mortgage Co. (NYSE:AGM) by 1,589.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 356,001 shares of the credit services provider’s stock after buying an additional 334,928 shares during the period. Thrivent Financial for Lutherans’ holdings in Federal Agricultural Mortgage were worth $70,114,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AGM. Blue Trust Inc. purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth about $25,000. Point72 DIFC Ltd increased its holdings in shares of Federal Agricultural Mortgage by 180.0% in the third quarter. Point72 DIFC Ltd now owns 364 shares of the credit services provider’s stock worth $68,000 after buying an additional 234 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth about $100,000. Parkside Financial Bank & Trust increased its holdings in shares of Federal Agricultural Mortgage by 7.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,004 shares of the credit services provider’s stock worth $198,000 after buying an additional 66 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Stock Down 0.9 %

Shares of NYSE:AGM opened at $192.60 on Wednesday. Federal Agricultural Mortgage Co. has a 1 year low of $169.17 and a 1 year high of $217.60. The company has a market cap of $2.10 billion, a PE ratio of 11.71, a P/E/G ratio of 1.69 and a beta of 1.11. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.49 and a quick ratio of 0.49. The stock’s 50-day moving average is $197.26 and its 200 day moving average is $196.02.

Federal Agricultural Mortgage (NYSE:AGM) last announced its quarterly earnings results on Friday, February 21st. The credit services provider reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.17 by $0.46. Federal Agricultural Mortgage had a return on equity of 19.43% and a net margin of 12.75%. The company had revenue of $101.26 million for the quarter, compared to the consensus estimate of $92.81 million. During the same quarter in the previous year, the business earned $4.10 EPS. Sell-side analysts anticipate that Federal Agricultural Mortgage Co. will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.12%. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. Federal Agricultural Mortgage’s payout ratio is presently 36.47%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Federal Agricultural Mortgage

In other Federal Agricultural Mortgage news, Director Mitchell A. Johnson sold 2,500 shares of Federal Agricultural Mortgage stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $205.21, for a total transaction of $513,025.00. Following the sale, the director now directly owns 8,644 shares of the company’s stock, valued at approximately $1,773,835.24. The trade was a 22.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Aparna Ramesh sold 1,000 shares of Federal Agricultural Mortgage stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $201.86, for a total value of $201,860.00. Following the sale, the chief financial officer now directly owns 9,242 shares in the company, valued at approximately $1,865,590.12. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.58% of the company’s stock.

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.