Wellington Management Group LLP Acquires 9,809 Shares of Federal Agricultural Mortgage Corporation $AGM

Wellington Management Group LLP lifted its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 327,881 shares of the credit services provider’s stock after acquiring an additional 9,809 shares during the period. Wellington Management Group LLP’s holdings in Federal Agricultural Mortgage were worth $65,337,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AGM. Northwestern Mutual Wealth Management Co. grew its position in Federal Agricultural Mortgage by 261,128.6% in the 4th 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 during the last quarter. Captrust Financial Advisors grew its position in 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 buying an additional 46,262 shares in the last quarter. Man Group plc increased its stake 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 acquiring an additional 44,020 shares during the period. Loomis Sayles & Co. L P raised its holdings in Federal Agricultural Mortgage by 23.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 225,325 shares of the credit services provider’s stock valued at $39,560,000 after acquiring an additional 43,266 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Federal Agricultural Mortgage by 12.7% in the 1st quarter. Principal Financial Group Inc. now owns 351,330 shares of the credit services provider’s stock worth $52,123,000 after acquiring an additional 39,702 shares during the period. 68.03% of the stock is owned by institutional investors.

Federal Agricultural Mortgage Stock Performance

Shares of NYSE:AGM opened at $223.46 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.56 and a quick ratio of 0.56. The business’s fifty day moving average price is $215.58 and its two-hundred day moving average price is $184.21. Federal Agricultural Mortgage Corporation has a fifty-two week low of $136.57 and a fifty-two week high of $248.29. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 0.82 and a beta of 0.97.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.87 by $0.53. Federal Agricultural Mortgage had a return on equity of 18.90% and a net margin of 29.98%.The company had revenue of $125.01 million during the quarter, compared to analysts’ expectations of $113.51 million. As a group, analysts predict that Federal Agricultural Mortgage Corporation will post 20.72 EPS for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $1.60 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $6.40 dividend on an annualized basis and a yield of 2.9%. Federal Agricultural Mortgage’s payout ratio is 34.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AGM shares. Zacks Research upgraded Federal Agricultural Mortgage from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods raised their price objective on shares of Federal Agricultural Mortgage from $228.00 to $255.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Weiss Ratings raised shares of Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $255.00.

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.