Canada Pension Plan Investment Board Invests $1 Million in Federal Agricultural Mortgage Co. (NYSE:AGM)

Canada Pension Plan Investment Board purchased a new position in Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,100 shares of the credit services provider's stock, valued at approximately $1,004,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Alpha Capital Management Ltd. increased its stake in shares of Federal Agricultural Mortgage by 22.9% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 14,036 shares of the credit services provider's stock worth $2,764,000 after purchasing an additional 2,611 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Federal Agricultural Mortgage in the fourth quarter worth approximately $2,289,000. Barclays PLC increased its stake in shares of Federal Agricultural Mortgage by 181.7% in the third 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 in the last quarter. Principal Financial Group Inc. raised its position 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 valued at $65,777,000 after purchasing an additional 14,274 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Federal Agricultural Mortgage by 11.1% during the 4th quarter. Wells Fargo & Company MN now owns 63,206 shares of the credit services provider's stock valued at $12,448,000 after buying an additional 6,317 shares in the last quarter. 68.03% of the stock is currently owned by hedge funds and other institutional investors.

Federal Agricultural Mortgage Price Performance

NYSE AGM traded down $1.55 during trading hours on Wednesday, reaching $174.82. The company's stock had a trading volume of 51,091 shares, compared to its average volume of 44,453. Federal Agricultural Mortgage Co. has a 1 year low of $159.64 and a 1 year high of $217.60. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 1.69 and a beta of 1.01. The firm's 50-day moving average price is $185.97 and its 200-day moving average price is $194.43.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last issued its earnings results on Friday, February 21st. The credit services provider reported $4.63 earnings per share for the quarter, topping analysts' consensus estimates of $4.17 by $0.46. The firm had revenue of $101.26 million during the quarter, compared to analyst estimates 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 prior year, the business earned $4.10 earnings per share. On average, equities research analysts predict that Federal Agricultural Mortgage Co. will post 17.6 EPS for the current fiscal year.

Federal Agricultural Mortgage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $1.50 dividend. This is an increase from Federal Agricultural Mortgage's previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Friday, March 14th. Federal Agricultural Mortgage's payout ratio is currently 36.47%.

Insider Buying and Selling at Federal Agricultural Mortgage

In other news, Director Robert G. Sexton bought 1,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $195.62 per share, for a total transaction of $195,620.00. Following the transaction, the director now owns 13,517 shares of the company's stock, valued at $2,644,195.54. The trade was a 7.99 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mitchell A. Johnson sold 2,500 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were 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. This trade represents 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 currently owned by company insiders.

Analysts Set New Price Targets

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