California Public Employees Retirement System lowered its stake in shares of Federal Agricultural Mortgage Co. (NYSE:AGM) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 0.46% of Federal Agricultural Mortgage worth $3,854,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Copeland Capital Management LLC purchased a new position in Federal Agricultural Mortgage during the fourth quarter worth about $3,187,000. 361 Capital LLC purchased a new position in shares of Federal Agricultural Mortgage in the 3rd quarter worth about $2,279,000. Ameriprise Financial Inc. raised its holdings in shares of Federal Agricultural Mortgage by 52.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 69,790 shares of the credit services provider’s stock worth $5,075,000 after purchasing an additional 23,900 shares during the period. Convergence Investment Partners LLC purchased a new position in shares of Federal Agricultural Mortgage in the 4th quarter worth about $1,242,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Federal Agricultural Mortgage during the 3rd quarter valued at about $1,109,000. 64.42% of the stock is currently owned by institutional investors and hedge funds.
Federal Agricultural Mortgage stock traded up $0.11 during mid-day trading on Friday, hitting $86.56. 80,788 shares of the company’s stock traded hands, compared to its average volume of 40,939. The company has a debt-to-equity ratio of 2.87, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $917.75, a P/E ratio of 14.06 and a beta of 1.17. Federal Agricultural Mortgage Co. has a one year low of $53.78 and a one year high of $92.57.
Federal Agricultural Mortgage (NYSE:AGM) last announced its earnings results on Thursday, March 8th. The credit services provider reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.14. Federal Agricultural Mortgage had a return on equity of 15.12% and a net margin of 20.21%. The firm had revenue of $43.96 million for the quarter.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Monday, March 19th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, March 16th. This is an increase from Federal Agricultural Mortgage’s previous quarterly dividend of $0.36.
A number of equities research analysts have weighed in on the company. ValuEngine lowered Federal Agricultural Mortgage from a “buy” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods set a $93.00 target price on Federal Agricultural Mortgage and gave the stock a “hold” rating in a research report on Wednesday, March 14th. Finally, Sidoti upgraded Federal Agricultural Mortgage from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $93.50.
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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: Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit. The Farm & Ranch segment purchases and retains eligible mortgage loans that are secured by first liens on agricultural real estate; securitizes eligible mortgage loans, and guarantees the timely payment of principal and interest on securities representing interests in or obligations secured by pools of mortgage loans; and issues long-term standby purchase commitments on designated eligible mortgage loans.
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