Municipal Employees Retirement System of Michigan decreased its holdings in shares of Federal Agricultural Mortgage Corp. (NYSE:AGM) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,160 shares of the credit services provider’s stock after selling 3,670 shares during the period. Municipal Employees Retirement System of Michigan owned 0.18% of Federal Agricultural Mortgage worth $1,499,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its position in shares of Federal Agricultural Mortgage by 5.3% in the 2nd quarter. State Street Corp now owns 190,318 shares of the credit services provider’s stock worth $12,309,000 after acquiring an additional 9,640 shares in the last quarter. Argent Capital Management LLC raised its position in shares of Federal Agricultural Mortgage by 17.9% in the 3rd quarter. Argent Capital Management LLC now owns 48,301 shares of the credit services provider’s stock worth $3,513,000 after acquiring an additional 7,330 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Federal Agricultural Mortgage in the 3rd quarter worth approximately $1,109,000. Prudential Financial Inc. raised its position in shares of Federal Agricultural Mortgage by 2.3% in the 3rd quarter. Prudential Financial Inc. now owns 166,760 shares of the credit services provider’s stock worth $12,131,000 after acquiring an additional 3,788 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Federal Agricultural Mortgage by 52.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 69,790 shares of the credit services provider’s stock worth $5,075,000 after acquiring an additional 23,900 shares in the last quarter. 64.42% of the stock is owned by institutional investors and hedge funds.
Federal Agricultural Mortgage stock opened at $88.14 on Monday. Federal Agricultural Mortgage Corp. has a 52-week low of $53.78 and a 52-week high of $92.57. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $935.69, a P/E ratio of 13.33 and a beta of 1.23.
Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings data on Thursday, March 8th. The credit services provider reported $1.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.14. Federal Agricultural Mortgage had a return on equity of 15.12% and a net margin of 20.21%. The company had revenue of $43.96 million during the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, March 16th. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $0.36. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is 21.79%.
Several brokerages have recently issued reports on AGM. ValuEngine raised Federal Agricultural Mortgage from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Sidoti raised Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods set a $93.00 price objective on Federal Agricultural Mortgage and gave the company a “hold” rating in a research report on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Federal Agricultural Mortgage presently has a consensus rating of “Hold” and a consensus price target of $93.50.
Federal Agricultural Mortgage Company Profile
Federal Agricultural Mortgage Corporation (Farmer Mac) provides a secondary market for a range of loans made to borrowers in rural America. The Company’s segments include Farm & Ranch, USDA Guarantees, Rural Utilities, Institutional Credit and Corporate. Its secondary market activities are purchasing eligible loans directly from lenders; providing advances against eligible loans by purchasing obligations secured by those loans; securitizing assets and guaranteeing the payment of principal and interest on the resulting securities that represent interests in, or obligations secured by, pools of eligible loans; and issuing long-term standby purchase commitments (LTSPCs) for eligible loans.
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