Federal Agricultural Mortgage Corporation $AGM Stock: Copeland Capital Management LLC Lowers Holdings

Key Points

• Copeland Capital Management cut its Federal Agricultural Mortgage holdings by 14.6% in the third quarter, selling 33,458 shares and retaining 196,355 shares worth approximately $40.6 million. Institutional investors collectively own 68.03% of the company.
• Farmer Mac reported quarterly EPS of $5.40, beating analyst estimates of $4.87, while revenue of $125.01 million also exceeded expectations. Analysts project full-year EPS of $20.72.
• The company paid a quarterly dividend of $1.60 per share, equivalent to an annualized $6.40 dividend and a 3.1% yield. Analyst sentiment remains cautious, with a consensus rating of “Hold” and a $255 price target.

Copeland Capital Management LLC lessened its holdings in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 14.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 196,355 shares of the credit services provider's stock after selling 33,458 shares during the quarter. Copeland Capital Management LLC owned 1.81% of Federal Agricultural Mortgage worth $40,630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sequoia Financial Advisors LLC boosted its position in Federal Agricultural Mortgage by 9.9% in the second quarter. Sequoia Financial Advisors LLC now owns 13,028 shares of the credit services provider's stock valued at $2,596,000 after buying an additional 1,175 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Federal Agricultural Mortgage during the second quarter worth $93,000. Nykredit A S bought a new stake in shares of Federal Agricultural Mortgage during the second quarter worth $50,000. VELA Investment Management LLC increased its holdings in shares of Federal Agricultural Mortgage by 6.1% during the second quarter. VELA Investment Management LLC now owns 16,648 shares of the credit services provider's stock worth $3,317,000 after buying an additional 952 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Federal Agricultural Mortgage during the second quarter worth $239,000. Institutional investors own 68.03% of the company's stock.

Federal Agricultural Mortgage Stock Performance

NYSE AGM opened at $203.95 on Wednesday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.75 and a beta of 1.05. Federal Agricultural Mortgage Corporation has a twelve month low of $136.57 and a twelve month high of $248.29. The stock has a fifty day simple moving average of $221.66 and a 200 day simple moving average of $196.57. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.82.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last announced its earnings results on Thursday, July 30th. The credit services provider reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $0.53. Federal Agricultural Mortgage had a return on equity of 18.90% and a net margin of 29.98%. The business had revenue of $125.01 million during the quarter, compared to analyst estimates of $113.51 million. Sell-side analysts expect that Federal Agricultural Mortgage Corporation will post 20.72 EPS for the current year.

Federal Agricultural Mortgage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Federal Agricultural Mortgage's dividend payout ratio is currently 34.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AGM shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Federal Agricultural Mortgage in a research note on Friday, September 25th. Zacks Research lowered Federal Agricultural Mortgage from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on Federal Agricultural Mortgage from $228.00 to $255.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $255.00.

Federal Agricultural Mortgage Company Profile

Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, is a federally chartered, shareholder-owned company that provides a secondary market for agricultural and rural credit. Established by Congress in 1988 under the Agricultural Credit Act of 1987, Farmer Mac is designed to improve the availability and affordability of financing for America's agricultural and rural communities.

The company supports agricultural lenders by purchasing eligible loans and providing guarantees and other forms of credit enhancement.

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