American Century Companies Inc. Boosts Stake in Federal Agricultural Mortgage Corporation $AGM

Key Points

• American Century Companies Inc. increased its stake in Federal Agricultural Mortgage Corporation by 11% in Q1, acquiring an additional 24,289 shares and holding approximately 2.25% of the company valued at $45.86 million.
• Federal Agricultural Mortgage reported earnings of $4.32 per share, exceeding expectations, along with a revenue of $100.51 million in its latest quarterly results.
• The company announced a quarterly dividend of $1.50, which will be paid on September 30, representing a yield of 3.1% and an annualized dividend of $6.00.

American Century Companies Inc. raised its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 244,550 shares of the credit services provider's stock after purchasing an additional 24,289 shares during the quarter. American Century Companies Inc. owned 2.25% of Federal Agricultural Mortgage worth $45,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AGM. KBC Group NV purchased a new position in shares of Federal Agricultural Mortgage in the 1st quarter valued at approximately $35,000. Byrne Asset Management LLC grew its stake in shares of Federal Agricultural Mortgage by 116.1% in the 1st quarter. Byrne Asset Management LLC now owns 242 shares of the credit services provider's stock valued at $45,000 after purchasing an additional 130 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Federal Agricultural Mortgage in the first quarter valued at approximately $54,000. Focus Partners Wealth purchased a new stake in shares of Federal Agricultural Mortgage in the fourth quarter valued at approximately $237,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Federal Agricultural Mortgage in the first quarter valued at approximately $257,000. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price target on Federal Agricultural Mortgage from $215.00 to $217.00 and gave the company a "market perform" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Federal Agricultural Mortgage currently has a consensus rating of "Hold" and a consensus price target of $217.00.

Insider Buying and Selling

In related news, Director Eric T. Mckissack sold 728 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $192.37, for a total value of $140,045.36. Following the completion of the transaction, the director directly owned 2,357 shares in the company, valued at approximately $453,416.09. This represents a 23.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.20% of the company's stock.

Federal Agricultural Mortgage Price Performance

Shares of NYSE AGM traded up $0.5850 during trading on Monday, reaching $204.6450. The company had a trading volume of 25,226 shares, compared to its average volume of 73,202. Federal Agricultural Mortgage Corporation has a twelve month low of $159.64 and a twelve month high of $217.14. The stock has a market capitalization of $2.24 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. The stock has a 50-day moving average price of $185.47 and a two-hundred day moving average price of $187.01. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.95.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The credit services provider reported $4.32 earnings per share for the quarter, topping analysts' consensus estimates of $4.29 by $0.03. Federal Agricultural Mortgage had a return on equity of 18.86% and a net margin of 13.14%.The company had revenue of $100.51 million during the quarter, compared to analysts' expectations of $96.54 million. As a group, sell-side analysts predict that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current year.

Federal Agricultural Mortgage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, September 15th. Federal Agricultural Mortgage's dividend payout ratio is presently 35.34%.

Federal Agricultural Mortgage Company Profile

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company's Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.