Principal Financial Group Inc. holds a $29.13 million position in Federal Agricultural Mortgage Co. (NYSE: AGM)

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Principal Financial Group Inc. increased its holdings of Federal Agricultural Mortgage Co. (NYSE:AGM – Get Rating) stock 1.8% in Q1, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The fund held 268,522 shares of the credit service provider after buying an additional 4,832 shares during the quarter. Principal Financial Group Inc. owned approximately 2.49% of Federal Agricultural Mortgage worth $29,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently increased or reduced their stakes in AGM. The Teacher Retirement System of Texas increased its holdings of Federal Agricultural Mortgage stocks 6.4% in Q1. Teacher Retirement System of Texas now owns 1,915 shares of the credit service provider worth $208,000 after purchasing 115 additional shares during the period. M&T Bank Corp increased its holdings of Federal Agricultural Mortgage shares 2.6% in the first quarter. M&T Bank Corp now owns 4,936 shares of the credit service provider worth $536,000 after acquiring 126 additional shares during the period. CWM LLC acquired a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth approximately $25,000. Lazard Asset Management LLC bought a new position in shares of Federal Agricultural Mortgage during the fourth quarter for a value of approximately $26,000. Finally, Empowered Funds LLC increased its holdings in Federal Agricultural Mortgage by 5.2% during the 4th quarter. Empowered Funds LLC now owns 4,464 shares of the credit service provider worth $553,000 after purchasing an additional 220 shares in the last quarter. 65.92% of the shares are held by institutional investors.

Wall Street analysts predict growth

Several research analysts have weighed in on the company. Sidoti upgraded Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and set a price target of $138.00 on the stock in a Thursday, May 5 research report. StockNews.com upgraded shares of Federal Agricultural Mortgage from a “hold” rating to a “buy” rating in a Wednesday, August 10 research rating.

Federal Agricultural Mortgage Price Performance

The federal farm mortgage stock opened at $114.68 on Tuesday. The stock’s fifty-day moving average price is $101.08 and its two-hundred-day moving average price is $108.78. The company has a market capitalization of $1.24 billion, a PE ratio of 9.28 and a beta of 0.94. The company has a debt ratio of 1.25, a current ratio of 0.46 and a quick ratio of 0.46. Federal Agricultural Mortgage Co. has a one-year low of $90.38 and a one-year high of $137.01.

Federal Agricultural Mortgage (NYSE:AGM – Get Rating) released its quarterly results for the last time on Monday, August 8. The credit service provider reported EPS of $2.83 for the quarter, meeting analyst consensus estimates of $2.83. Federal Agricultural Mortgage had a return on equity of 19.71% and a net margin of 31.96%.

Federal Farm Mortgage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.95 per share. The ex-date of this dividend is Wednesday, September 14. This represents an annualized dividend of $3.80 and a yield of 3.31%. Federal Agricultural Mortgage’s dividend payout ratio is currently 30.74%.

Federal Agricultural Mortgage Corporation Profile

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The Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Farm & Ranch, USDA (United States Department of Agriculture) Guarantees, Rural Utilities and Institutional Credit. The Farm & Ranch segment purchases and maintains qualifying mortgage loans that are secured by first lien on agricultural real estate; securitizes qualifying mortgages and guarantees the timely payment of principal and interest on interest-bearing securities or obligations secured by pools of mortgages; and issues Long-Term Support Purchase Commitments (LTSPCs) on designated eligible mortgages.

Further reading

Institutional Ownership by Quarter for Federal Agricultural Mortgage (NYSE: AGM)



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