Charles Schwab Investment Management Inc. Acquires 4,963 Shares of Federal Agricultural Mortgage Corporation $AGM

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Federal Agricultural Mortgage Corporation by 4.9%, holding 106,253 shares valued at approximately $19.92 million at the end of the recent quarter.
• Federal Agricultural Mortgage reported an earnings per share (EPS) of $4.32, surpassing analyst expectations of $4.29, with revenues of $100.51 million for the quarter.
• The company announced a quarterly dividend of $1.50 per share, representing an annualized yield of 3.1% and a current payout ratio of 35.34%.

Charles Schwab Investment Management Inc. boosted its position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,253 shares of the credit services provider's stock after acquiring an additional 4,963 shares during the period. Charles Schwab Investment Management Inc. owned 0.98% of Federal Agricultural Mortgage worth $19,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AGM. KBC Group NV bought a new stake in Federal Agricultural Mortgage during the 1st quarter worth approximately $35,000. Byrne Asset Management LLC raised its stake in Federal Agricultural Mortgage by 116.1% during the 1st quarter. Byrne Asset Management LLC now owns 242 shares of the credit services provider's stock worth $45,000 after acquiring an additional 130 shares during the period. Versant Capital Management Inc bought a new stake in Federal Agricultural Mortgage during the 1st quarter worth approximately $54,000. Focus Partners Wealth bought a new stake in Federal Agricultural Mortgage during the 4th quarter worth approximately $237,000. Finally, Teacher Retirement System of Texas bought a new stake in Federal Agricultural Mortgage during the 1st quarter worth approximately $257,000. Institutional investors own 68.03% of the company's stock.

Insider Activity

In other news, Director Eric T. Mckissack sold 728 shares of Federal Agricultural Mortgage stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $192.37, for a total transaction of $140,045.36. Following the sale, the director owned 2,357 shares in the company, valued at $453,416.09. This trade represents a 23.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their target price on shares of Federal Agricultural Mortgage from $215.00 to $217.00 and gave the stock 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 has an average rating of "Hold" and a consensus target price of $217.00.

Federal Agricultural Mortgage Price Performance

Shares of Federal Agricultural Mortgage stock traded up $1.16 on Wednesday, hitting $207.17. 43,359 shares of the company traded hands, compared to its average volume of 71,648. The stock has a market capitalization of $2.26 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 1.07 and a beta of 1.02. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.54 and a current ratio of 0.54. Federal Agricultural Mortgage Corporation has a 52 week low of $159.64 and a 52 week high of $217.14. The business has a 50-day simple moving average of $186.64 and a 200 day simple moving average of $187.33.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The credit services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.03. The firm had revenue of $100.51 million for the quarter, compared to analysts' expectations of $96.54 million. Federal Agricultural Mortgage had a net margin of 13.14% and a return on equity of 18.86%. Research analysts expect that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, September 15th. This represents a $6.00 annualized dividend and a dividend yield of 2.9%. Federal Agricultural Mortgage's dividend payout ratio (DPR) is presently 35.34%.

About Federal Agricultural Mortgage

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.