Raymond James Financial Inc. Purchases New Stake in Federal Agricultural Mortgage Co. (NYSE:AGM)

Raymond James Financial Inc. acquired a new position in shares of Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 146,810 shares of the credit services provider's stock, valued at approximately $28,914,000. Raymond James Financial Inc. owned 1.35% of Federal Agricultural Mortgage as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AGM. Parkside Financial Bank & Trust lifted its position in shares of Federal Agricultural Mortgage by 7.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,004 shares of the credit services provider's stock valued at $198,000 after acquiring an additional 66 shares during the period. Westover Capital Advisors LLC grew its stake in shares of Federal Agricultural Mortgage by 1.2% in the 4th quarter. Westover Capital Advisors LLC now owns 6,507 shares of the credit services provider's stock valued at $1,282,000 after buying an additional 75 shares during the period. Napatree Capital LLC increased its position in Federal Agricultural Mortgage by 6.8% in the 4th quarter. Napatree Capital LLC now owns 1,423 shares of the credit services provider's stock valued at $280,000 after buying an additional 91 shares in the last quarter. Blue Trust Inc. bought a new position in Federal Agricultural Mortgage in the fourth quarter worth approximately $25,000. Finally, Valmark Advisers Inc. grew its stake in Federal Agricultural Mortgage by 1.6% in the fourth quarter. Valmark Advisers Inc. now owns 8,626 shares of the credit services provider's stock valued at $1,699,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 68.03% of the company's stock.

Federal Agricultural Mortgage Stock Up 2.9 %

Shares of NYSE:AGM traded up $5.07 during midday trading on Wednesday, hitting $180.88. 7,615 shares of the company's stock were exchanged, compared to its average volume of 44,320. Federal Agricultural Mortgage Co. has a 12 month low of $159.64 and a 12 month high of $217.60. The company has a market cap of $1.97 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a 50 day moving average price of $188.85 and a 200-day moving average price of $194.82.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last posted its earnings results 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 company had revenue of $101.26 million for the quarter, compared to analyst estimates of $92.81 million. During the same quarter last year, the company earned $4.10 earnings per share. On average, sell-side analysts anticipate that Federal Agricultural Mortgage Co. will post 17.6 EPS for the current fiscal year.

Federal Agricultural Mortgage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.32%. This is an increase from Federal Agricultural Mortgage's previous quarterly dividend of $1.40. The ex-dividend date was Friday, March 14th. Federal Agricultural Mortgage's payout ratio is currently 36.47%.

Insider Transactions at Federal Agricultural Mortgage

In other news, Director Mitchell A. Johnson sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $205.21, for a total value of $513,025.00. Following the transaction, the director now owns 8,644 shares in the company, valued at $1,773,835.24. The trade was a 22.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert G. Sexton bought 1,000 shares of Federal Agricultural Mortgage stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $195.62 per share, with a total value of $195,620.00. Following the completion of the acquisition, the director now owns 13,517 shares of the company's stock, valued at $2,644,195.54. This represents a 7.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.58% of the company's stock.

Analyst Ratings Changes

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

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.