California State Teachers Retirement System Purchases 3,275 Shares of Federal Agricultural Mortgage Corporation $AGM

California State Teachers Retirement System increased its position in Federal Agricultural Mortgage Corporation (NYSE:AGM) by 37.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 11,907 shares of the credit services provider’s stock after buying an additional 3,275 shares during the period. California State Teachers Retirement System’s holdings in Federal Agricultural Mortgage were worth $1,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC bought a new stake in Federal Agricultural Mortgage during the 1st quarter valued at about $814,000. Principal Financial Group Inc. lifted its stake in shares of 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 worth $52,123,000 after buying an additional 39,702 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Federal Agricultural Mortgage by 85.9% during the first quarter. Empirical Finance LLC now owns 41,592 shares of the credit services provider’s stock valued at $6,170,000 after buying an additional 19,217 shares during the last quarter. Militia Capital Management LLC purchased a new stake in shares of Federal Agricultural Mortgage during the first quarter valued at approximately $1,187,000. Finally, Riverwater Partners LLC grew its holdings in shares of Federal Agricultural Mortgage by 48.0% during the fourth quarter. Riverwater Partners LLC now owns 10,160 shares of the credit services provider’s stock valued at $1,784,000 after buying an additional 3,293 shares during the last quarter. 68.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Federal Agricultural Mortgage Trading Up 1.6%

Federal Agricultural Mortgage stock opened at $238.34 on Thursday. Federal Agricultural Mortgage Corporation has a 52-week low of $136.57 and a 52-week high of $248.29. The company has a market cap of $2.59 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.87 and a beta of 0.98. 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 business has a 50-day simple moving average of $203.30 and a two-hundred day simple moving average of $178.83.

Federal Agricultural Mortgage (NYSE:AGM) last issued 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. Federal Agricultural Mortgage had a net margin of 29.98% and a return on equity of 18.90%. The firm had revenue of $125.01 million for the quarter, compared to analysts’ expectations of $113.51 million. Analysts predict that Federal Agricultural Mortgage Corporation will post 20.72 EPS for the current year.

Federal Agricultural Mortgage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 dividend yield of 2.7%. Federal Agricultural Mortgage’s payout ratio is presently 34.95%.

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.