The Manufacturers Life Insurance Company reduced its stake in Federal Agricultural Mortgage Co. (NYSE:AGM) by 18.1% during the fourth quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The company owned 17,631 shares of Federal Agricultural Mortgage stock after selling 3,900 shares during the period, retaining about 0.16% of the company worth $3,472,000.
Other institutional investors have also adjusted their holdings in Federal Agricultural Mortgage. Thrivent Financial for Lutherans significantly increased its position by 1,589.4% during the fourth quarter, now owning 356,001 shares valued at $70,114,000. Raymond James Financial Inc. established a new position in the company worth approximately $28,914,000. Principal Financial Group Inc. raised its holdings by 10.3% in the third quarter, while American Century Companies Inc. increased its stake by 10.9% in the fourth quarter. Boston Partners also boosted its position by 3.8% during the same period.
In related news, Federal Agricultural Mortgage’s stock performance has been notable. The stock opened at $185.74 on Friday, with the company having a market capitalization of $2.02 billion. The credit services provider reported earnings per share (EPS) of $4.19 for the quarter, exceeding analysts’ consensus estimates of $4.00. The company also announced a quarterly dividend, with shareholders of record on March 14th receiving $1.50 per share, representing a 3.23% yield on an annualized basis.
Insider transactions have also been reported. Director Robert G. Sexton purchased 1,000 shares at an average price of $195.62, while Director Mitchell A. Johnson sold 2,500 shares at $205.21. Insiders collectively own 2.21% of the company’s stock, while institutional investors hold 68.03%.
