FMR LLC & Abigail Johnson Disclose 7.075% Stake in Farmer Mac
Ticker: AGM-PH · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 845877
| Field | Detail |
|---|---|
| Company | Federal Agricultural Mortgage Corp (AGM-PH) |
| Form Type | SC 13G |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, equity-stake
TL;DR
**FMR LLC just revealed a 7.075% stake in Farmer Mac, signaling a big institutional bet.**
AI Summary
FMR LLC, a major investment management firm, and its principal owner, Abigail P. Johnson, have disclosed a significant stake in Federal Agricultural Mortgage Corp (FAMC), also known as Farmer Mac. As of February 9, 2024, they beneficially own 658,702 shares of FAMC's Class C Common Stock, representing 7.075% of the outstanding shares. This matters to investors because it signals a notable institutional endorsement of Farmer Mac, potentially indicating confidence in the company's future performance and stability within the agricultural finance sector.
Why It Matters
A large institutional investment by FMR LLC and its leader, Abigail P. Johnson, can be seen as a vote of confidence in Federal Agricultural Mortgage Corp, potentially attracting other investors and influencing stock price positively.
Risk Assessment
Risk Level: low — This filing indicates a significant institutional investment, which generally reduces perceived risk due to increased institutional oversight and confidence.
Analyst Insight
A smart investor would view this significant institutional stake as a positive signal, potentially prompting further research into Farmer Mac's fundamentals and considering it as a potential long-term investment.
Key Numbers
- 658,702 — Shares Beneficially Owned (Total shares of Class C Common Stock owned by FMR LLC and Abigail P. Johnson)
- 7.075% — Percent of Class (Percentage of FEDERAL AGRICULTURAL MORTGAGE CORP's Class C Common Stock owned)
- 20240209 — Filing Date (Date the SC 13G filing was made public)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- FEDERAL AGRICULTURAL MORTGAGE CORP (company) — issuer of the securities
- Farmer Mac (company) — common name for FEDERAL AGRICULTURAL MORTGAGE CORP
Forward-Looking Statements
- Increased institutional interest in FEDERAL AGRICULTURAL MORTGAGE CORP shares. (FEDERAL AGRICULTURAL MORTGAGE CORP) — medium confidence, target: Next 6-12 months
FAQ
Who are the reporting persons in this SC 13G filing?
The reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for each reporting person.
What is the name of the issuer whose securities are being reported?
The issuer is FEDERAL AGRICULTURAL MORTGAGE CORP, as identified in Item 1(a) of the filing.
How many shares of Class C Common Stock does FMR LLC beneficially own?
FMR LLC beneficially owns 658,702 shares of Class C Common Stock, as reported in Item 4(a) and Item 9 on the cover page for FMR LLC.
What percentage of the Class C Common Stock does Abigail P. Johnson beneficially own?
Abigail P. Johnson beneficially owns 7.075% of the Class C Common Stock, as reported in Item 11 on the cover page for Abigail P. Johnson.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed pursuant to Rule 13d-1(b), as indicated by the checked box on the first page of the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding FEDERAL AGRICULTURAL MORTGAGE CORP (AGM-PH).