Principal Financial Group Inc. Buys 29,917 Shares of Federal Agricultural Mortgage Co. (NYSE:AGM)

Principal Financial Group Inc. grew its holdings in Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 319,701 shares of the credit services provider's stock after acquiring an additional 29,917 shares during the period. Principal Financial Group Inc. owned 2.94% of Federal Agricultural Mortgage worth $59,911,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AGM. nVerses Capital LLC acquired a new position in Federal Agricultural Mortgage in the 2nd quarter worth $36,000. Fifth Third Bancorp raised its stake in Federal Agricultural Mortgage by 160.5% during the second quarter. Fifth Third Bancorp now owns 521 shares of the credit services provider's stock worth $94,000 after acquiring an additional 321 shares in the last quarter. Ridgewood Investments LLC bought a new position in Federal Agricultural Mortgage in the 2nd quarter valued at approximately $108,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Federal Agricultural Mortgage in the second quarter worth approximately $181,000. Finally, Cetera Advisors LLC acquired a new stake in Federal Agricultural Mortgage during the 1st quarter worth about $205,000. 68.03% of the stock is currently owned by institutional investors and hedge funds.

Federal Agricultural Mortgage Stock Performance

AGM traded down $1.40 during midday trading on Friday, reaching $207.73. The company had a trading volume of 68,271 shares, compared to its average volume of 50,155. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.58. Federal Agricultural Mortgage Co. has a 1 year low of $155.11 and a 1 year high of $217.60. The business has a 50-day moving average of $186.95 and a two-hundred day moving average of $186.18. The company has a market cap of $2.26 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.93 and a beta of 1.04.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The credit services provider reported $4.10 EPS for the quarter, missing the consensus estimate of $4.14 by ($0.04). Federal Agricultural Mortgage had a net margin of 12.59% and a return on equity of 20.14%. The business had revenue of $411.40 million during the quarter, compared to the consensus estimate of $92.15 million. During the same quarter in the prior year, the firm posted $4.13 EPS. As a group, equities research analysts predict that Federal Agricultural Mortgage Co. will post 15.8 earnings per share for the current fiscal year.

Federal Agricultural Mortgage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, December 16th. Federal Agricultural Mortgage's payout ratio is 36.01%.

Insider Activity at Federal Agricultural Mortgage

In related news, Director Sara Louise Faivre-Davis sold 685 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $188.93, for a total value of $129,417.05. Following the completion of the sale, the director now owns 4,595 shares in the company, valued at $868,133.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Stephen P. Mullery sold 2,472 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $182.28, for a total transaction of $450,596.16. Following the completion of the transaction, the executive vice president now owns 22,045 shares in the company, valued at $4,018,362.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sara Louise Faivre-Davis sold 685 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $188.93, for a total transaction of $129,417.05. Following the completion of the sale, the director now directly owns 4,595 shares of the company's stock, valued at approximately $868,133.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,967 shares of company stock worth $729,487. Company insiders own 2.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.