Raymond James Financial Inc. Invests $28.91 Million in Federal Agricultural Mortgage Co. (NYSE:AGM)

Raymond James Financial Inc. acquired a new position in Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 146,810 shares of the credit services provider's stock, valued at approximately $28,914,000. Raymond James Financial Inc. owned about 1.35% of Federal Agricultural Mortgage at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans bought a new position in Federal Agricultural Mortgage in the 3rd quarter worth approximately $3,949,000. Quest Partners LLC raised its position in Federal Agricultural Mortgage by 141.8% in the 3rd quarter. Quest Partners LLC now owns 5,022 shares of the credit services provider's stock worth $941,000 after purchasing an additional 2,945 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 worth $20,145,000 after purchasing an additional 6,444 shares during the last quarter. Barclays PLC raised its position in Federal Agricultural Mortgage by 181.7% in the 3rd quarter. Barclays PLC now owns 18,172 shares of the credit services provider's stock worth $3,405,000 after purchasing an additional 11,721 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Federal Agricultural Mortgage by 10.3% in the 3rd quarter. Principal Financial Group Inc. now owns 319,701 shares of the credit services provider's stock worth $59,911,000 after purchasing an additional 29,917 shares during the last quarter. Institutional investors own 68.03% of the company's stock.

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Insider Activity at Federal Agricultural Mortgage

In related news, Director Robert G. Sexton bought 1,000 shares of Federal Agricultural Mortgage stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $195.62 per share, with a total value of $195,620.00. Following the purchase, the director now owns 13,517 shares in the company, valued at approximately $2,644,195.54. This trade represents a 7.99 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mitchell A. Johnson sold 2,500 shares of the company'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 approximately $1,773,835.24. The trade was a 22.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.58% of the stock is owned by corporate insiders.

Federal Agricultural Mortgage Trading Down 0.9 %

Shares of Federal Agricultural Mortgage stock traded down $1.66 on Tuesday, hitting $192.60. 36,156 shares of the company's stock traded hands, compared to its average volume of 43,214. The firm's 50-day moving average price is $197.15 and its two-hundred day moving average price is $196.05. The stock has a market capitalization of $2.10 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.69 and a beta of 1.11. Federal Agricultural Mortgage Co. has a one year low of $169.17 and a one year high of $217.60. 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 earnings results on Friday, February 21st. The credit services provider reported $4.63 EPS for the quarter, beating the consensus estimate of $4.17 by $0.46. The company had revenue of $101.26 million during the quarter, compared to analysts' expectations of $92.81 million. Federal Agricultural Mortgage had a net margin of 12.75% and a return on equity of 19.43%. During the same quarter in the previous year, the company posted $4.10 EPS. On average, research analysts expect 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 will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.50 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.12%. 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%.

Wall Street Analysts Forecast Growth

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

About Federal Agricultural Mortgage

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.