16,275 Shares in Federal Agricultural Mortgage Corporation $AGM Acquired by Huntington Bancshares Inc. MD

Huntington Bancshares Inc. MD acquired a new stake in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 16,275 shares of the credit services provider’s stock, valued at approximately $2,340,508,000. Federal Agricultural Mortgage accounts for 22.9% of Huntington Bancshares Inc. MD’s investment portfolio, making the stock its 2nd largest holding.

Other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in Federal Agricultural Mortgage by 261,128.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 128,002 shares of the credit services provider’s stock worth $22,473,000 after purchasing an additional 127,953 shares during the period. Wellington Management Group LLP grew its holdings in shares of Federal Agricultural Mortgage by 44.5% in the 4th quarter. Wellington Management Group LLP now owns 262,931 shares of the credit services provider’s stock valued at $46,163,000 after buying an additional 80,911 shares during the period. Captrust Financial Advisors grew its holdings in shares of Federal Agricultural Mortgage by 14.8% in the 4th quarter. Captrust Financial Advisors now owns 358,908 shares of the credit services provider’s stock valued at $63,013,000 after buying an additional 46,262 shares during the period. Man Group plc increased its position in shares of Federal Agricultural Mortgage by 1,262.0% in the 3rd quarter. Man Group plc now owns 47,508 shares of the credit services provider’s stock valued at $7,980,000 after buying an additional 44,020 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Federal Agricultural Mortgage by 23.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 225,325 shares of the credit services provider’s stock valued at $39,560,000 after buying an additional 43,266 shares in the last quarter. Institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Stock Performance

AGM opened at $221.79 on Monday. The business’s 50-day moving average price is $209.94 and its two-hundred day moving average price is $181.66. Federal Agricultural Mortgage Corporation has a 1 year low of $136.57 and a 1 year high of $248.29. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 0.82 and a beta of 0.98. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.56 and a quick ratio of 0.56.

Federal Agricultural Mortgage (NYSE:AGM) last posted its quarterly earnings data on Thursday, July 30th. The credit services provider reported $5.40 earnings per share for the quarter, topping the consensus estimate of $4.87 by $0.53. The company had revenue of $125.01 million during the quarter, compared to analysts’ expectations of $113.51 million. Federal Agricultural Mortgage had a return on equity of 18.90% and a net margin of 29.98%. Equities analysts expect that Federal Agricultural Mortgage Corporation will post 20.72 EPS for the current fiscal 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 given a dividend of $1.60 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.40 dividend on an annualized basis and a yield of 2.9%. Federal Agricultural Mortgage’s dividend payout ratio is 34.95%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AGM. Weiss Ratings upgraded Federal Agricultural Mortgage from a “hold (c-)” rating to a “hold (c)” rating in a report 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. Wall Street Zen raised Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on Federal Agricultural Mortgage from $228.00 to $255.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $255.00.

Federal Agricultural Mortgage Profile

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.