Federal Agricultural Mortgage Co. (AGM) to Issue Quarterly Dividend of $1.40 on September 30th

Federal Agricultural Mortgage Co. (NYSE:AGM) announced a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Monday, September 16th will be paid a dividend of 1.40 per share by the credit services provider on Monday, September 30th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, September 16th.

Federal Agricultural Mortgage has increased its dividend payment by an average of 11.2% per year over the last three years and has raised its dividend every year for the last 13 years. Federal Agricultural Mortgage has a payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Federal Agricultural Mortgage to earn $17.93 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 31.2%.

Federal Agricultural Mortgage Trading Up 1.8 %

Shares of AGM opened at $188.20 on Friday. Federal Agricultural Mortgage has a 52-week low of $140.44 and a 52-week high of $217.60. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.49 and a current ratio of 0.49. The business’s fifty day moving average is $193.15 and its 200-day moving average is $186.19. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.61 and a beta of 1.04.

Federal Agricultural Mortgage (NYSE:AGM) last announced its quarterly earnings results on Monday, August 5th. The credit services provider reported $3.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.09 by ($0.46). The company had revenue of $406.23 million for the quarter, compared to the consensus estimate of $91.77 million. Federal Agricultural Mortgage had a net margin of 13.28% and a return on equity of 20.88%. During the same period last year, the firm posted $3.86 earnings per share. Equities analysts anticipate that Federal Agricultural Mortgage will post 16.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $215.00 price target on shares of Federal Agricultural Mortgage in a research note on Tuesday, August 6th.

Insider Activity

In other news, Director Sara Louise Faivre-Davis sold 685 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $184.55, for a total transaction of $126,416.75. Following the completion of the transaction, the director now owns 3,225 shares of the company’s stock, valued at $595,173.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Sara Louise Faivre-Davis sold 685 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $184.55, for a total transaction of $126,416.75. Following the completion of the transaction, the director now directly owns 3,225 shares in the company, valued at $595,173.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen P. Mullery sold 2,472 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $182.28, for a total value of $450,596.16. Following the completion of the sale, the executive vice president now owns 22,045 shares in the company, valued at $4,018,362.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,967 shares of company stock valued at $729,487. 2.58% of the stock is currently owned by corporate insiders.

Federal Agricultural Mortgage Company 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.