Wellington Management Group LLP Has $65.34 Million Stock Holdings in Federal Agricultural Mortgage Corporation $AGM

Key Points

• Wellington Management increased its Federal Agricultural Mortgage stake by 3.1% in the second quarter, owning 327,881 shares valued at approximately $65.34 million, or 3.02% of the company. Institutional investors collectively hold 68.03% of AGM’s shares.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and a $255 price target. Keefe, Bruyette & Woods recently raised its target to $255 and assigned an “outperform” rating.
• Federal Agricultural Mortgage exceeded quarterly expectations, reporting $5.40 in EPS versus $4.87 expected and revenue of $125.01 million versus $113.51 million estimated. The company also declared a quarterly dividend of $1.60 per share, representing a 2.9% annualized yield.

Wellington Management Group LLP boosted its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 327,881 shares of the credit services provider's stock after buying an additional 9,809 shares during the quarter. Wellington Management Group LLP owned approximately 3.02% of Federal Agricultural Mortgage worth $65,337,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Militia Capital Management LLC acquired a new position in shares of Federal Agricultural Mortgage in the first quarter worth $2,374,000. Huntington Bancshares Inc. MD acquired a new stake in Federal Agricultural Mortgage during the second quarter valued at $2,340,508,000. Hsbc Holdings PLC purchased a new position in Federal Agricultural Mortgage in the first quarter valued at about $814,000. Principal Financial Group Inc. grew its stake in Federal Agricultural Mortgage by 12.7% in the first quarter. Principal Financial Group Inc. now owns 351,330 shares of the credit services provider's stock valued at $52,123,000 after purchasing an additional 39,702 shares in the last quarter. Finally, Empirical Finance LLC increased its position in Federal Agricultural Mortgage by 85.9% in the 1st quarter. Empirical Finance LLC now owns 41,592 shares of the credit services provider's stock worth $6,170,000 after purchasing an additional 19,217 shares during the last quarter. Institutional investors and hedge funds own 68.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Federal Agricultural Mortgage from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings raised Federal Agricultural Mortgage from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 29th. Zacks Research upgraded Federal Agricultural Mortgage from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Federal Agricultural Mortgage from $228.00 to $255.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $255.00.

Federal Agricultural Mortgage Price Performance

Shares of Federal Agricultural Mortgage stock opened at $223.46 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.82. The firm has a fifty day simple moving average of $215.58 and a 200-day simple moving average of $184.21. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.82 and a beta of 0.97. Federal Agricultural Mortgage Corporation has a 1-year low of $136.57 and a 1-year high of $248.29.

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

Federal Agricultural Mortgage Dividend Announcement

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

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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