Allspring Global Investments Holdings LLC Raises Stock Holdings in Federal Agricultural Mortgage Co. (NYSE:AGM)

Allspring Global Investments Holdings LLC boosted its position in shares of Federal Agricultural Mortgage Co. (NYSE:AGM) by 943.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 28,355 shares of the credit services provider’s stock after acquiring an additional 25,638 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Federal Agricultural Mortgage were worth $5,422,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Federal Agricultural Mortgage in the third quarter valued at about $31,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Federal Agricultural Mortgage in the fourth quarter worth about $38,000. Federated Hermes Inc. increased its holdings in Federal Agricultural Mortgage by 464.7% during the 3rd quarter. Federated Hermes Inc. now owns 288 shares of the credit services provider’s stock valued at $44,000 after purchasing an additional 237 shares during the period. Point72 Middle East FZE bought a new position in Federal Agricultural Mortgage during the 4th quarter valued at approximately $59,000. Finally, Ensign Peak Advisors Inc purchased a new stake in Federal Agricultural Mortgage in the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Price Performance

Shares of AGM stock opened at $180.36 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.46 and a current ratio of 0.46. Federal Agricultural Mortgage Co. has a fifty-two week low of $122.96 and a fifty-two week high of $199.40. The firm has a market cap of $1.96 billion, a P/E ratio of 11.41 and a beta of 1.07. The business’s 50 day moving average price is $186.28 and its 200-day moving average price is $175.60.

Federal Agricultural Mortgage (NYSE:AGM) last released its quarterly earnings results on Friday, February 23rd. The credit services provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.40. Federal Agricultural Mortgage had a net margin of 14.13% and a return on equity of 22.68%. The business had revenue of $354.15 million for the quarter, compared to analysts’ expectations of $86.86 million. During the same quarter in the previous year, the business posted $3.16 earnings per share. On average, equities research analysts anticipate that Federal Agricultural Mortgage Co. will post 17 earnings per share for the current year.

Federal Agricultural Mortgage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.40 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.60 annualized dividend and a dividend yield of 3.10%. This is a boost from Federal Agricultural Mortgage’s previous quarterly dividend of $1.10. Federal Agricultural Mortgage’s payout ratio is currently 35.42%.

About Federal Agricultural Mortgage

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy. The company's Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans.