Wellington Management Group LLP Has $32.36 Million Holdings in Federal Agricultural Mortgage Corporation $AGM

Key Points

• Wellington Management Group LLP has decreased its stake in Federal Agricultural Mortgage Corporation by 5.4%, now holding 172,574 shares valued at approximately $32.36 million.
• Analysts at Keefe, Bruyette & Woods have raised the target price for Federal Agricultural Mortgage shares from $215.00 to $217.00, maintaining a "market perform" rating.
• Federal Agricultural Mortgage Corporation recently announced a quarterly dividend of $1.50 per share, reflecting an annualized yield of 2.9% and a payout ratio of 35.34%.

Wellington Management Group LLP lowered its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,574 shares of the credit services provider's stock after selling 9,899 shares during the quarter. Wellington Management Group LLP owned approximately 1.58% of Federal Agricultural Mortgage worth $32,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Captrust Financial Advisors lifted its holdings in shares of Federal Agricultural Mortgage by 12.4% in the fourth quarter. Captrust Financial Advisors now owns 255,198 shares of the credit services provider's stock worth $50,261,000 after acquiring an additional 28,215 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Federal Agricultural Mortgage by 11.0% in the first quarter. American Century Companies Inc. now owns 244,550 shares of the credit services provider's stock worth $45,856,000 after acquiring an additional 24,289 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Federal Agricultural Mortgage by 6.2% in the fourth quarter. Northern Trust Corp now owns 129,874 shares of the credit services provider's stock worth $25,579,000 after acquiring an additional 7,593 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Federal Agricultural Mortgage by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 106,253 shares of the credit services provider's stock worth $19,924,000 after acquiring an additional 4,963 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Federal Agricultural Mortgage by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 72,602 shares of the credit services provider's stock worth $13,614,000 after acquiring an additional 786 shares during the last quarter. Institutional investors own 68.03% of the company's stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased 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 report on Friday, August 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Federal Agricultural Mortgage currently has an average rating of "Hold" and a consensus price target of $217.00.

Federal Agricultural Mortgage Trading Up 0.2%

Shares of Federal Agricultural Mortgage stock traded up $0.51 on Friday, hitting $210.24. The stock had a trading volume of 48,452 shares, compared to its average volume of 72,868. The stock has a 50 day moving average of $187.52 and a 200 day moving average of $187.38. Federal Agricultural Mortgage Corporation has a twelve month low of $159.64 and a twelve month high of $217.14. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $2.30 billion, a P/E ratio of 12.38, a PEG ratio of 1.08 and a beta of 1.02.

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. 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 the consensus estimate of $96.54 million. Sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend 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 is currently 35.34%.

Insider Activity

In other Federal Agricultural Mortgage news, EVP Zachary Carpenter sold 293 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $205.09, for a total transaction of $60,091.37. Following the completion of the sale, the executive vice president owned 10,532 shares of the company's stock, valued at approximately $2,160,007.88. This represents a 2.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric T. Mckissack sold 728 shares of the 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 directly owned 2,357 shares of the company's stock, valued at $453,416.09. This represents a 23.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,745 shares of company stock worth $1,380,853. 2.20% of the stock is owned by company insiders.

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.