Principal Financial Group Inc. Buys 39,702 Shares of Federal Agricultural Mortgage Corporation $AGM

by · The Cerbat Gem

Principal Financial Group Inc. raised its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM – Free Report) by 12.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 351,330 shares of the credit services provider’s stock after buying an additional 39,702 shares during the quarter. Principal Financial Group Inc.’s holdings in Federal Agricultural Mortgage were worth $52,123,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AGM. Riverwater Partners LLC grew its position in shares of Federal Agricultural Mortgage by 48.0% in the 4th quarter. Riverwater Partners LLC now owns 10,160 shares of the credit services provider’s stock worth $1,784,000 after buying an additional 3,293 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Federal Agricultural Mortgage by 261,128.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 128,002 shares of the credit services provider’s stock valued at $22,473,000 after acquiring an additional 127,953 shares in the last quarter. UBS Group AG boosted its stake in Federal Agricultural Mortgage by 37.6% in the fourth quarter. UBS Group AG now owns 46,137 shares of the credit services provider’s stock valued at $8,100,000 after acquiring an additional 12,603 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Federal Agricultural Mortgage by 3.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 436,786 shares of the credit services provider’s stock worth $76,686,000 after purchasing an additional 16,107 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in Federal Agricultural Mortgage by 11.0% in the fourth quarter. ProShare Advisors LLC now owns 35,389 shares of the credit services provider’s stock worth $6,213,000 after purchasing an additional 3,512 shares during the last quarter. 68.03% of the stock is currently owned by institutional investors.

Federal Agricultural Mortgage Stock Down 0.5%

NYSE:AGM opened at $205.30 on Friday. The company has a market cap of $2.23 billion, a PE ratio of 11.81, a P/E/G ratio of 0.95 and a beta of 0.99. Federal Agricultural Mortgage Corporation has a twelve month low of $136.57 and a twelve month high of $210.64. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.93. The company’s 50 day moving average is $186.49 and its two-hundred day moving average is $172.60.

Federal Agricultural Mortgage (NYSE:AGM – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $4.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.44 by $0.30. The business had revenue of $109.12 million during the quarter, compared to analysts’ expectations of $110.76 million. Federal Agricultural Mortgage had a net margin of 20.78% and a return on equity of 18.20%. Analysts anticipate that Federal Agricultural Mortgage Corporation will post 19.75 EPS for the current year.

Federal Agricultural Mortgage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, June 15th. Federal Agricultural Mortgage’s dividend payout ratio is presently 36.82%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Federal Agricultural Mortgage from $215.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Weiss Ratings raised Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Finally, Wall Street Zen raised Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $228.00.

Read Our Latest Analysis on Federal Agricultural Mortgage

Federal Agricultural Mortgage Company Profile

(Free Report)

Federal Agricultural Mortgage Corporation (NYSE: AGM), commonly known as Farmer Mac, is a government-sponsored enterprise chartered in 1988 under the Agricultural Credit Act of 1987. Headquartered in Washington, DC, Farmer Mac was established to enhance the availability of mortgage credit for the agricultural and rural utility sectors. The corporation operates as a secondary market for agricultural real estate and rural infrastructure loans, providing lenders with liquidity and risk management solutions.

The company’s principal business activities include purchasing and securitizing long-term fixed-rate agricultural mortgage loans and rural utilities loans originated by approved lenders.

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