Envestnet Asset Management Inc. lifted its holdings in shares of Federal Agricultural Mortgage Co. (NYSE:AGM – Free Report) by 26.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,409 shares of the credit services provider’s stock after purchasing an additional 12,053 shares during the quarter. Envestnet Asset Management Inc. owned 0.54% of Federal Agricultural Mortgage worth $9,013,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of Federal Agricultural Mortgage by 3.5% during the third quarter. Rhumbline Advisers now owns 15,046 shares of the credit services provider’s stock valued at $2,322,000 after purchasing an additional 510 shares during the period. Deutsche Bank AG raised its holdings in Federal Agricultural Mortgage by 3.6% in the third quarter. Deutsche Bank AG now owns 5,422 shares of the credit services provider’s stock worth $837,000 after purchasing an additional 187 shares in the last quarter. UBS Group AG grew its position in shares of Federal Agricultural Mortgage by 5.7% in the 3rd quarter. UBS Group AG now owns 43,503 shares of the credit services provider’s stock worth $6,713,000 after buying an additional 2,329 shares during the period. Crown Advisors Management Inc. increased its stake in shares of Federal Agricultural Mortgage by 16.7% in the 3rd quarter. Crown Advisors Management Inc. now owns 35,000 shares of the credit services provider’s stock worth $5,400,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Pathstone Family Office LLC purchased a new position in Federal Agricultural Mortgage during the 3rd quarter valued at about $219,000. Institutional investors own 66.46% of the company’s stock.
Federal Agricultural Mortgage Stock Up 1.3 %
AGM stock opened at $181.15 on Monday. The firm has a market cap of $1.97 billion, a PE ratio of 11.46 and a beta of 1.06. The business has a 50 day moving average of $185.08 and a 200 day moving average of $170.31. Federal Agricultural Mortgage Co. has a twelve month low of $122.10 and a twelve month high of $198.17. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.51.
Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last posted its quarterly earnings data on Friday, February 23rd. The credit services provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.40. Federal Agricultural Mortgage had a net margin of 14.13% and a return on equity of 22.68%. The company had revenue of $354.15 million for the quarter, compared to the consensus estimate of $86.86 million. During the same quarter last year, the firm posted $3.16 earnings per share. On average, research analysts forecast that Federal Agricultural Mortgage Co. will post 17 EPS for the current fiscal year.
Federal Agricultural Mortgage Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.09%. The ex-dividend date is Thursday, March 14th. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $1.10. Federal Agricultural Mortgage’s dividend payout ratio is presently 27.83%.
Federal Agricultural Mortgage Profile
Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy segments. 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.
See Also
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