ProShare Advisors LLC Increases Holdings in Federal Agricultural Mortgage Corporation $AGM

ProShare Advisors LLC increased its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,389 shares of the credit services provider’s stock after purchasing an additional 3,512 shares during the quarter. ProShare Advisors LLC owned about 0.32% of Federal Agricultural Mortgage worth $6,213,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its position in shares of Federal Agricultural Mortgage by 11.4% in the third quarter. Thrivent Financial for Lutherans now owns 420,679 shares of the credit services provider’s stock valued at $70,665,000 after purchasing an additional 43,160 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Federal Agricultural Mortgage in the third quarter valued at $1,063,000. Captrust Financial Advisors grew its position in shares of Federal Agricultural Mortgage by 5.9% in the third quarter. Captrust Financial Advisors now owns 312,646 shares of the credit services provider’s stock valued at $52,518,000 after purchasing an additional 17,293 shares in the last quarter. American Century Companies Inc. grew its position in shares of Federal Agricultural Mortgage by 9.6% in the third quarter. American Century Companies Inc. now owns 288,701 shares of the credit services provider’s stock valued at $48,496,000 after purchasing an additional 25,305 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in Federal Agricultural Mortgage during the third quarter valued at $3,446,000. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

Federal Agricultural Mortgage Price Performance

NYSE:AGM opened at $177.43 on Friday. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 0.81 and a beta of 1.02. Federal Agricultural Mortgage Corporation has a 52-week low of $136.57 and a 52-week high of $210.64. The stock has a fifty day moving average of $162.17 and a 200 day moving average of $167.74. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.56 and a current ratio of 0.56.

Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.44 by $0.30. The company had revenue of $109.13 million during the quarter, compared to analyst estimates of $110.76 million. Federal Agricultural Mortgage had a return on equity of 18.20% and a net margin of 20.78%. On average, research analysts expect that Federal Agricultural Mortgage Corporation will post 19.75 EPS for the current fiscal year.

Federal Agricultural Mortgage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $6.40 annualized dividend and a yield of 3.6%. Federal Agricultural Mortgage’s payout ratio is 36.82%.

Analysts Set New Price Targets

Several research firms recently issued reports on AGM. Wall Street Zen raised Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods lifted their price objective on Federal Agricultural Mortgage from $215.00 to $228.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.00.

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.