Federal Agricultural Mortgage Corporation Declares Quarterly Dividend of $1.60 (NYSE:AGM)

Federal Agricultural Mortgage Corporation (NYSE:AGM) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Monday, June 15th will be paid a dividend of 1.60 per share by the credit services provider on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, June 15th.

Federal Agricultural Mortgage has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 14 years. Federal Agricultural Mortgage has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Federal Agricultural Mortgage to earn $21.64 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 29.6%.

Federal Agricultural Mortgage Trading Down 4.1%

NYSE:AGM opened at $171.11 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.93. Federal Agricultural Mortgage has a 1-year low of $136.57 and a 1-year high of $210.64. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02. The stock has a fifty day simple moving average of $160.14 and a 200 day simple moving average of $167.06.

Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $4.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.44 by $0.30. Federal Agricultural Mortgage had a return on equity of 18.20% and a net margin of 20.78%.The firm had revenue of $109.13 million for the quarter, compared to the consensus estimate of $110.76 million. Sell-side analysts forecast that Federal Agricultural Mortgage will post 19.75 earnings per share for the current year.

Institutional Investors Weigh In On Federal Agricultural Mortgage

Institutional investors have recently bought and sold shares of the business. Capital World Investors purchased a new position in Federal Agricultural Mortgage during the 3rd quarter valued at about $46,324,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 worth $22,473,000 after purchasing an additional 127,953 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Federal Agricultural Mortgage by 44.5% during the fourth quarter. Wellington Management Group LLP now owns 262,931 shares of the credit services provider’s stock worth $46,163,000 after purchasing an additional 80,911 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Federal Agricultural Mortgage by 14.8% during the fourth quarter. Captrust Financial Advisors now owns 358,908 shares of the credit services provider’s stock worth $63,013,000 after purchasing an additional 46,262 shares during the period. Finally, Man Group plc grew its position in Federal Agricultural Mortgage by 1,262.0% during the third quarter. Man Group plc now owns 47,508 shares of the credit services provider’s stock valued at $7,980,000 after purchasing an additional 44,020 shares in the last quarter. 68.03% of the stock is currently owned by institutional investors and hedge funds.

About Federal Agricultural Mortgage

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.