Bessemer Group Inc. Reduces Holdings in Federal Agricultural Mortgage Corporation $AGM

Bessemer Group Inc. lessened its position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM) by 87.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,532 shares of the credit services provider’s stock after selling 17,155 shares during the quarter. Bessemer Group Inc.’s holdings in Federal Agricultural Mortgage were worth $376,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in Federal Agricultural Mortgage in the first quarter valued at $34,000. Allworth Financial LP grew its holdings in shares of Federal Agricultural Mortgage by 640.0% during the 4th quarter. Allworth Financial LP now owns 185 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 160 shares during the period. Farther Finance Advisors LLC increased its position in shares of Federal Agricultural Mortgage by 53.6% during the 4th quarter. Farther Finance Advisors LLC now owns 212 shares of the credit services provider’s stock worth $37,000 after purchasing an additional 74 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Federal Agricultural Mortgage during the 4th quarter worth about $40,000. Finally, Advisory Services Network LLC purchased a new stake in Federal Agricultural Mortgage in the 3rd quarter valued at about $48,000. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on AGM shares. Wall Street Zen raised shares of Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Federal Agricultural Mortgage from $215.00 to $228.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $228.00.

Federal Agricultural Mortgage Stock Performance

Shares of Federal Agricultural Mortgage stock opened at $209.31 on Friday. The business has a 50-day moving average of $189.74 and a 200 day moving average of $173.68. Federal Agricultural Mortgage Corporation has a 12 month low of $136.57 and a 12 month high of $210.64. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.56 and a quick ratio of 0.56.

Federal Agricultural Mortgage (NYSE:AGM) last released its earnings results on Tuesday, May 5th. The credit services provider reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.44 by $0.30. The company had revenue of $109.12 million during the quarter, compared to the consensus estimate of $110.76 million. Federal Agricultural Mortgage had a return on equity of 18.20% and a net margin of 20.78%. As a group, sell-side analysts forecast that Federal Agricultural Mortgage Corporation will post 19.75 earnings per share for the current year.

Federal Agricultural Mortgage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.1%. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is presently 36.82%.

Federal Agricultural Mortgage Profile

Federal Agricultural Mortgage Corporation (NYSE: AGM), commonly known as Farmer Mac, is a government-sponsored enterprise chartered in 1988 under the Agricultural Credit Act of 1987. Headquartered in Washington, DC, Farmer Mac was established to enhance the availability of mortgage credit for the agricultural and rural utility sectors. The corporation operates as a secondary market for agricultural real estate and rural infrastructure loans, providing lenders with liquidity and risk management solutions.

The company’s principal business activities include purchasing and securitizing long-term fixed-rate agricultural mortgage loans and rural utilities loans originated by approved lenders.