California Public Employees Retirement System reduced its position in shares of Federal Agricultural Mortgage Corp. (NYSE:AGM) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,254 shares of the credit services provider’s stock after selling 7,033 shares during the period. California Public Employees Retirement System owned about 0.46% of Federal Agricultural Mortgage worth $3,854,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in shares of Federal Agricultural Mortgage during the 4th quarter worth $243,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Federal Agricultural Mortgage during the 3rd quarter worth $240,000. Bessemer Group Inc. purchased a new stake in shares of Federal Agricultural Mortgage during the 4th quarter worth $313,000. The Manufacturers Life Insurance Company lifted its position in shares of Federal Agricultural Mortgage by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,170 shares of the credit services provider’s stock worth $464,000 after purchasing an additional 376 shares during the last quarter. Finally, Eqis Capital Management Inc. lifted its position in shares of Federal Agricultural Mortgage by 19.1% during the 4th quarter. Eqis Capital Management Inc. now owns 7,926 shares of the credit services provider’s stock worth $620,000 after purchasing an additional 1,269 shares during the last quarter. 64.42% of the stock is owned by institutional investors and hedge funds.
Shares of Federal Agricultural Mortgage Corp. (NYSE AGM) opened at $87.60 on Friday. Federal Agricultural Mortgage Corp. has a one year low of $53.78 and a one year high of $92.57. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $923.38, a price-to-earnings ratio of 14.14 and a beta of 1.23.
Federal Agricultural Mortgage (NYSE:AGM) last announced its quarterly earnings results on Thursday, March 8th. The credit services provider reported $1.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.14. Federal Agricultural Mortgage had a net margin of 20.21% and a return on equity of 15.12%. The firm had revenue of $43.96 million for the quarter.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Monday, March 19th will be paid a dividend of $0.58 per share. This is a positive change from Federal Agricultural Mortgage’s previous quarterly dividend of $0.36. This represents a $2.32 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, March 16th. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is currently 21.79%.
Several research firms have recently issued reports on AGM. Keefe, Bruyette & Woods set a $93.00 price objective on shares of Federal Agricultural Mortgage and gave the stock a “hold” rating in a research report on Wednesday. Sidoti raised shares of Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Wednesday, February 14th. Finally, ValuEngine raised shares of Federal Agricultural Mortgage from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $93.50.
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Federal Agricultural Mortgage Company Profile
Federal Agricultural Mortgage Corporation (Farmer Mac) provides a secondary market for a range of loans made to borrowers in rural America. The Company’s segments include Farm & Ranch, USDA Guarantees, Rural Utilities, Institutional Credit and Corporate. Its secondary market activities are purchasing eligible loans directly from lenders; providing advances against eligible loans by purchasing obligations secured by those loans; securitizing assets and guaranteeing the payment of principal and interest on the resulting securities that represent interests in, or obligations secured by, pools of eligible loans; and issuing long-term standby purchase commitments (LTSPCs) for eligible loans.
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