Federal Agricultural Mortgage Co. (NYSE:AGM) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its position in shares of Federal Agricultural Mortgage Co. (NYSE:AGM) by 1.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 61,477 shares of the credit services provider’s stock after selling 757 shares during the period. Raymond James & Associates’ holdings in Federal Agricultural Mortgage were worth $11,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new position in Federal Agricultural Mortgage during the 4th quarter worth approximately $34,000. Sunbelt Securities Inc. grew its holdings in Federal Agricultural Mortgage by 194.2% during the first quarter. Sunbelt Securities Inc. now owns 203 shares of the credit services provider’s stock worth $40,000 after acquiring an additional 134 shares during the period. SRS Capital Advisors Inc. grew its holdings in Federal Agricultural Mortgage by 304.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 263 shares of the credit services provider’s stock worth $50,000 after acquiring an additional 198 shares during the period. Cetera Advisors LLC purchased a new position in Federal Agricultural Mortgage in the first quarter worth $205,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in Federal Agricultural Mortgage in the first quarter valued at $208,000. Institutional investors and hedge funds own 68.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $215.00 price target on shares of Federal Agricultural Mortgage in a research note on Tuesday, August 6th.

Federal Agricultural Mortgage Price Performance

AGM stock opened at $194.23 on Friday. The firm has a 50 day moving average of $189.73 and a 200-day moving average of $185.59. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.70 and a beta of 1.03. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.38. Federal Agricultural Mortgage Co. has a 12-month low of $140.44 and a 12-month high of $217.60.

Federal Agricultural Mortgage (NYSE:AGM) last released its quarterly earnings data on Monday, August 5th. The credit services provider reported $3.63 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.46). The firm had revenue of $406.23 million during the quarter, compared to analysts’ expectations of $91.77 million. Federal Agricultural Mortgage had a net margin of 13.79% and a return on equity of 22.01%. During the same period in the previous year, the business earned $3.86 earnings per share. As a group, equities analysts expect that Federal Agricultural Mortgage Co. will post 16.67 EPS for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, September 16th. Federal Agricultural Mortgage’s dividend payout ratio (DPR) is presently 34.15%.

Federal Agricultural Mortgage Profile

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.