Empowered Funds LLC Boosts Stock Holdings in Federal Agricultural Mortgage Corporation $AGM

Empowered Funds LLC raised its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 55.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,341 shares of the credit services provider’s stock after purchasing an additional 34,375 shares during the quarter. Empowered Funds LLC owned about 0.89% of Federal Agricultural Mortgage worth $14,292,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of Federal Agricultural Mortgage by 8.3% in the 1st quarter. AQR Capital Management LLC now owns 6,702 shares of the credit services provider’s stock worth $1,257,000 after buying an additional 513 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Federal Agricultural Mortgage by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,469 shares of the credit services provider’s stock valued at $1,025,000 after purchasing an additional 267 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Federal Agricultural Mortgage by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,683 shares of the credit services provider’s stock worth $4,066,000 after purchasing an additional 2,070 shares during the period. Intech Investment Management LLC increased its position in Federal Agricultural Mortgage by 54.1% during the 1st quarter. Intech Investment Management LLC now owns 7,678 shares of the credit services provider’s stock worth $1,440,000 after purchasing an additional 2,694 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Federal Agricultural Mortgage in the first quarter valued at approximately $34,000. 68.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on AGM. Wall Street Zen raised shares of Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. 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, Keefe, Bruyette & Woods boosted their price target on Federal Agricultural Mortgage from $215.00 to $228.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Federal Agricultural Mortgage currently has an average rating of “Moderate Buy” and a consensus price target of $228.00.

Federal Agricultural Mortgage Stock Performance

NYSE:AGM opened at $213.44 on Thursday. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a 50-day moving average of $192.04 and a two-hundred day moving average of $174.41. The stock has a market cap of $2.32 billion, a P/E ratio of 12.28, a PEG ratio of 0.98 and a beta of 0.99. Federal Agricultural Mortgage Corporation has a 1-year low of $136.57 and a 1-year high of $216.43.

Federal Agricultural Mortgage (NYSE:AGM) last released its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $4.74 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 business had revenue of $109.12 million for the quarter, compared to analysts’ expectations of $110.76 million. On average, research analysts expect that Federal Agricultural Mortgage Corporation will post 19.75 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, June 15th. Federal Agricultural Mortgage’s dividend payout ratio is 36.82%.

Federal Agricultural Mortgage Company Profile

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.