Ratan Capital Management LP Buys New Position in Federal Agricultural Mortgage Corporation $AGM

Key Points

• Ratan Capital Management initiated a position in Federal Agricultural Mortgage, purchasing 75,915 shares worth approximately $454,000, or about 0.70% of the company. Institutional investors collectively own 68.03% of AGM.
• Federal Agricultural Mortgage exceeded quarterly expectations, reporting $5.40 in EPS versus the $4.87 consensus and revenue of $125.01 million versus $113.51 million expected.
• The company declared a quarterly dividend of $1.60 per share, equal to $6.40 annually and a 2.9% yield. Analysts maintain a consensus “Buy” rating with a $255 target price.

Ratan Capital Management LP purchased a new position in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 75,915 shares of the credit services provider's stock, valued at approximately $454,000. Ratan Capital Management LP owned approximately 0.70% of Federal Agricultural Mortgage as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in Federal Agricultural Mortgage during the 2nd quarter worth approximately $27,000. Allworth Financial LP boosted its position in Federal Agricultural Mortgage by 640.0% in 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 during the period. Acadian Asset Management LLC purchased a new position in Federal Agricultural Mortgage in the 1st quarter valued at approximately $34,000. Farther Finance Advisors LLC grew its stake in shares of Federal Agricultural Mortgage by 53.6% in 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 in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 68.03% of the company's stock.

Federal Agricultural Mortgage Stock Down 0.0%

Shares of Federal Agricultural Mortgage stock opened at $222.58 on Friday. Federal Agricultural Mortgage Corporation has a 52-week low of $136.57 and a 52-week high of $248.29. The company has a 50 day moving average of $213.63 and a 200 day moving average of $183.30. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $2.41 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.83 and a beta of 0.98.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.40 EPS for the quarter, beating analysts' consensus estimates of $4.87 by $0.53. Federal Agricultural Mortgage had a net margin of 29.98% and a return on equity of 18.90%. The company had revenue of $125.01 million for the quarter, compared to the consensus estimate of $113.51 million. As a group, research analysts forecast that Federal Agricultural Mortgage Corporation will post 20.72 EPS for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $1.60 per share. The ex-dividend date is Tuesday, September 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.9%. Federal Agricultural Mortgage's payout ratio is presently 34.95%.

Analyst Upgrades and Downgrades

AGM has been the topic of several analyst reports. Weiss Ratings upgraded Federal Agricultural Mortgage from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods boosted their target price on Federal Agricultural Mortgage from $228.00 to $255.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Zacks Research upgraded Federal Agricultural Mortgage from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded Federal Agricultural Mortgage from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $255.00.

About Federal Agricultural Mortgage

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.

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