Ameriprise Financial Inc. Invests $357,000 in Federal Agricultural Mortgage Co. (NYSE:AGM)

Ameriprise Financial Inc. purchased a new position in shares of Federal Agricultural Mortgage Co. (NYSE:AGM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,812 shares of the credit services provider's stock, valued at approximately $357,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AGM. Global Alpha Capital Management Ltd. increased its stake in Federal Agricultural Mortgage by 22.9% during 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 Federal Agricultural Mortgage during the 4th quarter worth about $2,289,000. Barclays PLC raised its stake in shares of Federal Agricultural Mortgage by 181.7% in the 3rd quarter. Barclays PLC now owns 18,172 shares of the credit services provider's stock valued at $3,405,000 after purchasing an additional 11,721 shares during the period. Principal Financial Group Inc. raised its stake in shares of Federal Agricultural Mortgage by 4.5% in 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 holdings in shares of Federal Agricultural Mortgage by 11.1% in the fourth quarter. Wells Fargo & Company MN now owns 63,206 shares of the credit services provider's stock valued at $12,448,000 after purchasing an additional 6,317 shares in the last quarter. 68.03% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Sara Louise Faivre-Davis sold 350 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $192.26, for a total value of $67,291.00. Following the sale, the director now owns 1,751 shares in the company, valued at approximately $336,647.26. This represents a 16.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert G. Sexton purchased 1,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $195.62 per share, with a total value of $195,620.00. Following the acquisition, the director now directly owns 13,517 shares in the company, valued at approximately $2,644,195.54. The trade was a 7.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $215.00 price objective (down from $230.00) on shares of Federal Agricultural Mortgage in a report on Monday, May 12th.

Federal Agricultural Mortgage Stock Up 4.2%

Shares of NYSE AGM traded up $7.68 during midday trading on Friday, reaching $191.96. The company's stock had a trading volume of 428,634 shares, compared to its average volume of 49,954. The stock has a 50 day simple moving average of $180.11 and a 200-day simple moving average of $192.86. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.69 and a beta of 0.97. Federal Agricultural Mortgage Co. has a fifty-two week low of $159.64 and a fifty-two week high of $217.60.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last released its earnings results on Friday, May 9th. The credit services provider reported $4.19 earnings per share for the quarter, beating analysts' consensus estimates of $4.00 by $0.19. Federal Agricultural Mortgage had a net margin of 12.75% and a return on equity of 19.43%. The business had revenue of $96.79 million during the quarter, compared to the consensus estimate of $94.33 million. Equities research analysts predict that Federal Agricultural Mortgage Co. will post 17.6 earnings per share for the current year.

Federal Agricultural Mortgage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $1.50 dividend. The ex-dividend date is Monday, June 16th. This represents a $6.00 annualized dividend and a dividend yield of 3.13%. Federal Agricultural Mortgage's dividend payout ratio is presently 37.08%.

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.