American Century Companies Inc. raised its holdings in shares of Federal Agricultural Mortgage Co. (NYSE:AGM – Free Report) by 15.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,709 shares of the credit services provider’s stock after buying an additional 10,133 shares during the quarter. American Century Companies Inc.’s holdings in Federal Agricultural Mortgage were worth $11,990,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Deutsche Bank AG grew its position in Federal Agricultural Mortgage by 3.6% during the third quarter. Deutsche Bank AG now owns 5,422 shares of the credit services provider’s stock worth $837,000 after buying an additional 187 shares in the last quarter. Comerica Bank purchased a new position in Federal Agricultural Mortgage during the third quarter worth about $374,000. Creative Planning grew its position in Federal Agricultural Mortgage by 30.7% during the third quarter. Creative Planning now owns 3,371 shares of the credit services provider’s stock worth $520,000 after buying an additional 791 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Federal Agricultural Mortgage by 14.8% during the third quarter. The Manufacturers Life Insurance Company now owns 37,974 shares of the credit services provider’s stock worth $5,859,000 after buying an additional 4,898 shares in the last quarter. Finally, Sei Investments Co. grew its position in Federal Agricultural Mortgage by 22.6% during the third quarter. Sei Investments Co. now owns 19,371 shares of the credit services provider’s stock worth $2,989,000 after buying an additional 3,577 shares in the last quarter. 66.46% of the stock is currently owned by hedge funds and other institutional investors.
Federal Agricultural Mortgage Price Performance
Federal Agricultural Mortgage stock opened at $189.58 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.51. The business has a 50-day simple moving average of $185.75 and a 200 day simple moving average of $172.38. Federal Agricultural Mortgage Co. has a 52 week low of $122.10 and a 52 week high of $199.40. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 11.99 and a beta of 1.06.
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last issued its quarterly earnings results on Friday, February 23rd. The credit services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.40. Federal Agricultural Mortgage had a return on equity of 22.68% and a net margin of 14.13%. The firm had revenue of $354.15 million during the quarter, compared to analyst estimates of $86.86 million. During the same quarter in the previous year, the company posted $3.16 earnings per share. On average, research analysts forecast that Federal Agricultural Mortgage Co. will post 17 earnings per share for the current fiscal year.
Federal Agricultural Mortgage Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $5.60 annualized dividend and a yield of 2.95%. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $1.10. Federal Agricultural Mortgage’s payout ratio is 35.42%.
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.
Featured Articles
Want to see what other hedge funds are holding AGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Federal Agricultural Mortgage Co. (NYSE:AGM – Free Report).
Receive News & Ratings for Federal Agricultural Mortgage Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Federal Agricultural Mortgage and related companies with MarketBeat.com’s FREE daily email newsletter.
