Principal Financial Group Inc. Reduces Holdings in Federal Agricultural Mortgage Corporation (NYSE:AGM)

Principal Financial Group Inc. trimmed its holdings in shares of Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,534 shares of the credit services provider's stock after selling 3,441 shares during the period. Principal Financial Group Inc. owned about 3.03% of Federal Agricultural Mortgage worth $61,978,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Teacher Retirement System of Texas purchased a new position in shares of Federal Agricultural Mortgage during the 1st quarter worth approximately $257,000. Hudson Edge Investment Partners Inc. increased its stake in shares of Federal Agricultural Mortgage by 40.2% during the 1st quarter. Hudson Edge Investment Partners Inc. now owns 3,916 shares of the credit services provider's stock worth $734,000 after purchasing an additional 1,122 shares in the last quarter. KBC Group NV purchased a new position in shares of Federal Agricultural Mortgage during the 1st quarter worth approximately $35,000. Balboa Wealth Partners increased its stake in shares of Federal Agricultural Mortgage by 4.1% during the 1st quarter. Balboa Wealth Partners now owns 3,825 shares of the credit services provider's stock worth $717,000 after purchasing an additional 150 shares in the last quarter. Finally, Valmark Advisers Inc. increased its stake in shares of Federal Agricultural Mortgage by 4.6% during the 1st quarter. Valmark Advisers Inc. now owns 9,023 shares of the credit services provider's stock worth $1,692,000 after purchasing an additional 397 shares in the last quarter. 68.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Eric T. Mckissack sold 728 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $192.37, for a total transaction of $140,045.36. Following the sale, the director owned 2,357 shares in the company, valued at approximately $453,416.09. This trade represents a 23.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sara Louise Faivre-Davis sold 350 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $192.26, for a total transaction of $67,291.00. Following the sale, the director owned 1,751 shares in the company, valued at approximately $336,647.26. This trade represents a 16.66% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Federal Agricultural Mortgage Stock Up 0.6%

Shares of NYSE AGM opened at $201.02 on Friday. Federal Agricultural Mortgage Corporation has a 1 year low of $159.64 and a 1 year high of $217.60. The firm's 50 day moving average price is $188.14 and its 200 day moving average price is $190.26. The firm has a market cap of $2.20 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.53 and a current ratio of 0.53.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last announced its earnings results on Friday, May 9th. The credit services provider reported $4.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.00 by $0.19. Federal Agricultural Mortgage had a net margin of 12.65% and a return on equity of 18.77%. The firm had revenue of $96.79 million for the quarter, compared to analyst estimates of $94.33 million. As a group, sell-side analysts anticipate that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current year.

Federal Agricultural Mortgage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $1.50 per share. The ex-dividend date was Monday, June 16th. This represents a $6.00 dividend on an annualized basis and a yield of 2.98%. Federal Agricultural Mortgage's dividend payout ratio (DPR) is currently 37.08%.

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.

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