The Manufacturers Life Insurance Company Has $4.04 Million Stock Holdings in Federal Agricultural Mortgage Co. (NYSE:AGM)

The Manufacturers Life Insurance Company trimmed its holdings in Federal Agricultural Mortgage Co. (NYSE:AGM) by 39.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 21,531 shares of the credit services provider’s stock after selling 13,851 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Federal Agricultural Mortgage were worth $4,035,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AGM. nVerses Capital LLC bought a new position in Federal Agricultural Mortgage in the 2nd quarter worth $36,000. Fifth Third Bancorp boosted its holdings in Federal Agricultural Mortgage by 160.5% during the second quarter. Fifth Third Bancorp now owns 521 shares of the credit services provider’s stock valued at $94,000 after acquiring an additional 321 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Federal Agricultural Mortgage in the second quarter valued at about $108,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Federal Agricultural Mortgage in the second quarter worth about $181,000. Finally, Cetera Advisors LLC acquired a new stake in shares of Federal Agricultural Mortgage in the first quarter worth $205,000. Institutional investors and hedge funds own 68.03% of the company’s stock.

Federal Agricultural Mortgage Stock Up 0.3 %

NYSE AGM opened at $213.38 on Friday. The firm has a 50-day simple moving average of $196.63 and a 200 day simple moving average of $189.72. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.49 and a current ratio of 0.49. Federal Agricultural Mortgage Co. has a twelve month low of $165.50 and a twelve month high of $217.60. The stock has a market cap of $2.32 billion, a PE ratio of 13.72, a PEG ratio of 1.92 and a beta of 1.07.

Federal Agricultural Mortgage (NYSE:AGM) last announced its quarterly earnings results on Monday, November 4th. The credit services provider reported $4.10 EPS for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.04). Federal Agricultural Mortgage had a return on equity of 20.14% and a net margin of 12.59%. The business had revenue of $411.40 million for the quarter, compared to the consensus estimate of $92.15 million. During the same quarter in the prior year, the business earned $4.13 EPS. On average, research analysts forecast that Federal Agricultural Mortgage Co. will post 15.85 EPS for the current year.

Federal Agricultural Mortgage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $1.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $5.60 dividend on an annualized basis and a yield of 2.62%. Federal Agricultural Mortgage’s payout ratio is 36.01%.

Insider Buying and Selling

In other news, CEO Bradford T. Nordholm sold 5,073 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $213.37, for a total value of $1,082,426.01. Following the completion of the transaction, the chief executive officer now owns 41,104 shares in the company, valued at $8,770,360.48. This trade represents a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mitchell A. Johnson sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $208.00, for a total transaction of $208,000.00. Following the completion of the sale, the director now directly owns 14,060 shares in the company, valued at approximately $2,924,480. The trade was a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,170 shares of company stock worth $2,282,215 over the last three months. 2.58% of the stock is currently owned by company 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: 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.