New York State Common Retirement Fund Buys 2,900 Shares of Federal Agricultural Mortgage Co. (NYSE:AGM)

New York State Common Retirement Fund lifted its position in Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) by 88.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,177 shares of the credit services provider's stock after purchasing an additional 2,900 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Federal Agricultural Mortgage worth $1,217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in shares of Federal Agricultural Mortgage in the 4th quarter worth approximately $25,000. Point72 DIFC Ltd grew its position in Federal Agricultural Mortgage by 180.0% in the third quarter. Point72 DIFC Ltd now owns 364 shares of the credit services provider's stock valued at $68,000 after acquiring an additional 234 shares during the period. Venturi Wealth Management LLC acquired a new position in Federal Agricultural Mortgage during the fourth quarter worth $100,000. Kingswood Wealth Advisors LLC bought a new position in shares of Federal Agricultural Mortgage during the fourth quarter valued at $209,000. Finally, US Bancorp DE boosted its stake in shares of Federal Agricultural Mortgage by 7.3% in the 3rd quarter. US Bancorp DE now owns 1,106 shares of the credit services provider's stock valued at $207,000 after purchasing an additional 75 shares in the last quarter. 68.03% of the stock is owned by institutional investors.

Insider Transactions at Federal Agricultural Mortgage

In other news, CFO Aparna Ramesh sold 1,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $201.86, for a total transaction of $201,860.00. Following the completion of the sale, the chief financial officer now owns 9,242 shares in the company, valued at $1,865,590.12. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mitchell A. Johnson sold 2,500 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $205.21, for a total value of $513,025.00. Following the completion of the transaction, the director now owns 8,644 shares in the company, valued at approximately $1,773,835.24. This represents a 22.43 % decrease in their position. The disclosure for this sale can be found here. 2.58% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their target price on shares of Federal Agricultural Mortgage from $205.00 to $230.00 and gave the stock a "market perform" rating in a research report on Monday, February 24th.

Federal Agricultural Mortgage Price Performance

Shares of AGM traded down $2.62 on Thursday, hitting $200.79. The company's stock had a trading volume of 10,342 shares, compared to its average volume of 46,063. The company has a market capitalization of $2.19 billion, a PE ratio of 12.21, a PEG ratio of 1.69 and a beta of 1.08. Federal Agricultural Mortgage Co. has a fifty-two week low of $169.17 and a fifty-two week high of $217.60. The company has a 50 day moving average price of $197.18 and a 200 day moving average price of $195.79. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.49 and a quick ratio of 0.49.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last issued its quarterly earnings data on Friday, February 21st. The credit services provider reported $4.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.17 by $0.46. The firm had revenue of $101.26 million during the quarter, compared to the consensus estimate of $92.81 million. Federal Agricultural Mortgage had a return on equity of 19.43% and a net margin of 12.75%. During the same quarter in the previous year, the company posted $4.10 EPS. On average, research analysts anticipate that Federal Agricultural Mortgage Co. will post 17.6 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Federal Agricultural Mortgage's previous quarterly dividend of $1.40. Federal Agricultural Mortgage's dividend payout ratio (DPR) is presently 36.47%.

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.