Federal Agricultural Mortgage Corporation (AGM) to Issue Quarterly Dividend of $1.60 on June 30th

Federal Agricultural Mortgage Corporation (NYSE:AGM) declared a quarterly dividend on Wednesday, May 13th. Investors of record on Monday, June 15th will be given a dividend of 1.60 per share by the credit services provider on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, June 15th.

Federal Agricultural Mortgage has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 14 years. Federal Agricultural Mortgage has a payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Federal Agricultural Mortgage to earn $21.64 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 29.6%.

Federal Agricultural Mortgage Stock Performance

AGM stock opened at $182.29 on Friday. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.56 and a quick ratio of 0.56. The company has a 50 day moving average price of $172.38 and a 200 day moving average price of $169.31. Federal Agricultural Mortgage has a fifty-two week low of $136.57 and a fifty-two week high of $210.64. The stock has a market capitalization of $1.98 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 0.84 and a beta of 1.00.

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 for the quarter, topping the consensus estimate of $4.44 by $0.30. Federal Agricultural Mortgage had a net margin of 20.78% and a return on equity of 18.20%. The firm had revenue of $109.13 million during the quarter, compared to analysts’ expectations of $110.76 million. Analysts forecast that Federal Agricultural Mortgage will post 19.75 EPS for the current year.

Institutional Trading of Federal Agricultural Mortgage

Several institutional investors and hedge funds have recently made changes to their positions in AGM. Capital World Investors bought a new stake in shares of Federal Agricultural Mortgage during the 3rd quarter valued at $46,324,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Federal Agricultural Mortgage by 261,128.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 128,002 shares of the credit services provider’s stock valued at $22,473,000 after acquiring an additional 127,953 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Federal Agricultural Mortgage by 44.5% during 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 acquiring an additional 80,911 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Federal Agricultural Mortgage by 14.8% during the 4th quarter. Captrust Financial Advisors now owns 358,908 shares of the credit services provider’s stock valued at $63,013,000 after acquiring an additional 46,262 shares during the last quarter. Finally, Man Group plc raised its position in shares of Federal Agricultural Mortgage by 1,262.0% during the 3rd quarter. Man Group plc now owns 47,508 shares of the credit services provider’s stock valued at $7,980,000 after acquiring an additional 44,020 shares during the last quarter. Institutional investors own 68.03% of the company’s stock.

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.