Principal Financial Group Inc. Raises Stake in Federal Agricultural Mortgage Corporation $AGM

Principal Financial Group Inc. lifted its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 351,330 shares of the credit services provider’s stock after purchasing an additional 39,702 shares during the period. Principal Financial Group Inc. owned about 3.24% of Federal Agricultural Mortgage worth $52,123,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Federal Agricultural Mortgage by 640.0% during the 4th quarter. Allworth Financial LP now owns 185 shares of the credit services provider’s stock valued at $32,000 after buying an additional 160 shares in the last quarter. Acadian Asset Management LLC bought a new position in Federal Agricultural Mortgage in the 1st quarter worth about $34,000. Farther Finance Advisors LLC increased its position in shares of Federal Agricultural Mortgage by 53.6% during the fourth quarter. Farther Finance Advisors LLC now owns 212 shares of the credit services provider’s stock worth $37,000 after acquiring an additional 74 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Federal Agricultural Mortgage during the fourth quarter worth approximately $40,000. Finally, Advisory Services Network LLC bought a new stake in shares of Federal Agricultural Mortgage during the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Stock Down 0.5%

Shares of Federal Agricultural Mortgage stock opened at $205.30 on Friday. 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 stock has a market cap of $2.23 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.95 and a beta of 0.99. The firm’s 50-day moving average is $186.49 and its two-hundred day moving average is $172.60. Federal Agricultural Mortgage Corporation has a 1 year low of $136.57 and a 1 year high of $210.64.

Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $4.74 EPS for the quarter, beating the consensus estimate of $4.44 by $0.30. Federal Agricultural Mortgage had a net margin of 20.78% and a return on equity of 18.20%. The business had revenue of $109.12 million during the quarter, compared to analyst estimates of $110.76 million. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.1%. Federal Agricultural Mortgage’s payout ratio is 36.82%.

Analyst Upgrades and Downgrades

AGM has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their price target on Federal Agricultural Mortgage from $215.00 to $228.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings raised Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.00.

Federal Agricultural Mortgage 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.