Bank of New York Mellon Corp Trims Stock Position in Federal Agricultural Mortgage Co. (NYSE:AGM)

Bank of New York Mellon Corp reduced its position in shares of Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,032 shares of the credit services provider's stock after selling 3,135 shares during the period. Bank of New York Mellon Corp owned 0.48% of Federal Agricultural Mortgage worth $10,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AGM. Principal Financial Group Inc. increased its holdings in shares of Federal Agricultural Mortgage by 4.5% during the 4th quarter. Principal Financial Group Inc. now owns 333,975 shares of the credit services provider's stock worth $65,777,000 after buying an additional 14,274 shares during the last quarter. Copeland Capital Management LLC increased its stake in Federal Agricultural Mortgage by 2.5% during the fourth quarter. Copeland Capital Management LLC now owns 297,810 shares of the credit services provider's stock worth $58,654,000 after acquiring an additional 7,283 shares during the last quarter. Captrust Financial Advisors raised its position in Federal Agricultural Mortgage by 10.0% in the third quarter. Captrust Financial Advisors now owns 226,983 shares of the credit services provider's stock valued at $42,539,000 after purchasing an additional 20,603 shares during the period. Wellington Management Group LLP raised its position in Federal Agricultural Mortgage by 5.9% in the third quarter. Wellington Management Group LLP now owns 182,569 shares of the credit services provider's stock valued at $34,215,000 after purchasing an additional 10,194 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Federal Agricultural Mortgage by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 107,494 shares of the credit services provider's stock valued at $20,145,000 after purchasing an additional 6,444 shares during the last quarter. 68.03% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

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

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price objective on 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 Trading Down 0.4 %

Shares of NYSE:AGM traded down $0.82 during mid-day trading on Monday, reaching $194.39. 45,484 shares of the company were exchanged, compared to its average volume of 43,249. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 1.69 and a beta of 1.11. 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 Co. has a 1 year low of $169.17 and a 1 year high of $217.60. The firm's 50-day simple moving average is $197.09 and its 200 day simple moving average is $196.06.

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 for the quarter, beating analysts' consensus estimates of $4.17 by $0.46. Federal Agricultural Mortgage had a return on equity of 19.43% and a net margin of 12.75%. The business had revenue of $101.26 million during the quarter, compared to analysts' expectations of $92.81 million. During the same period in the previous year, the firm posted $4.10 earnings per share. Equities research analysts forecast that Federal Agricultural Mortgage Co. will post 17.6 EPS for the current year.

Federal Agricultural Mortgage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date 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 is currently 36.47%.

Federal Agricultural Mortgage Company 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.