Principal Financial Group Inc. continued to hold its position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,225 shares of the credit services provider’s stock at the end of the first quarter. Principal Financial Group Inc.’s holdings in Federal Agricultural Mortgage Corporation were worth $301,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in Federal Agricultural Mortgage Corporation by 7.5% in the fourth quarter. State Street Corp now owns 180,095 shares of the credit services provider’s stock valued at $10,313,000 after buying an additional 12,487 shares in the last quarter. Algert Global LLC raised its stake in Federal Agricultural Mortgage Corporation by 3.0% in the first quarter. Algert Global LLC now owns 12,520 shares of the credit services provider’s stock valued at $721,000 after buying an additional 360 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Federal Agricultural Mortgage Corporation during the first quarter valued at about $299,000. Adams Diversified Equity Fund Inc. raised its stake in Federal Agricultural Mortgage Corporation by 2.7% in the first quarter. Adams Diversified Equity Fund Inc. now owns 22,700 shares of the credit services provider’s stock valued at $1,307,000 after buying an additional 600 shares in the last quarter. Finally, American International Group Inc. raised its stake in Federal Agricultural Mortgage Corporation by 7.1% in the first quarter. American International Group Inc. now owns 5,287 shares of the credit services provider’s stock valued at $304,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 64.11% of the company’s stock.
Shares of Federal Agricultural Mortgage Corporation (AGM) opened at 66.40 on Friday. The company’s 50 day moving average is $67.44 and its 200 day moving average is $61.41. Federal Agricultural Mortgage Corporation has a 52-week low of $37.84 and a 52-week high of $74.01. The firm has a market cap of $704.11 million, a price-to-earnings ratio of 9.15 and a beta of 1.16.
Federal Agricultural Mortgage Corporation (NYSE:AGM) last posted its earnings results on Wednesday, August 9th. The credit services provider reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.12. Federal Agricultural Mortgage Corporation had a net margin of 24.02% and a return on equity of 15.01%. The business had revenue of $43.48 million for the quarter. Analysts anticipate that Federal Agricultural Mortgage Corporation will post $5.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 dividend on an annualized basis and a yield of 2.17%. Federal Agricultural Mortgage Corporation’s dividend payout ratio is presently 19.81%.
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AGM has been the topic of several analyst reports. Keefe, Bruyette & Woods set a $65.00 price target on shares of Federal Agricultural Mortgage Corporation and gave the stock a “hold” rating in a research report on Tuesday, May 16th. TheStreet upgraded shares of Federal Agricultural Mortgage Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, May 17th. Finally, BidaskClub lowered shares of Federal Agricultural Mortgage Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th.
In other Federal Agricultural Mortgage Corporation news, CFO Robert Dale Lynch sold 4,392 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $70.00, for a total value of $307,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Engebretsen sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $66.70, for a total transaction of $40,020.00. The disclosure for this sale can be found here. In the last three months, insiders sold 9,546 shares of company stock valued at $632,432. Corporate insiders own 3.75% of the company’s stock.
Federal Agricultural Mortgage Corporation 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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