Raymond James Financial Inc. Sells 5,851 Shares of Federal Agricultural Mortgage Corporation $AGM

Key Points

• Raymond James Financial Inc. reduced its holdings in Federal Agricultural Mortgage Corporation (AGM) by 4.0%, selling 5,851 shares and now owning a total of 140,958 shares worth approximately $26.4 million.
• Federal Agricultural Mortgage recently reported earnings of $4.32 per share for the last quarter, surpassing analyst expectations, with a total revenue of $100.51 million.
• The company is set to pay a quarterly dividend of $1.50 on September 30th, reflecting an annualized yield of 2.9%, with a payout ratio of 35.34%.

Raymond James Financial Inc. lowered its stake in Federal Agricultural Mortgage Corporation (NYSE:AGM - Free Report) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 140,958 shares of the credit services provider's stock after selling 5,851 shares during the quarter. Raymond James Financial Inc. owned approximately 1.29% of Federal Agricultural Mortgage worth $26,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AGM. Captrust Financial Advisors increased its position in shares of Federal Agricultural Mortgage by 12.4% in the fourth quarter. Captrust Financial Advisors now owns 255,198 shares of the credit services provider's stock valued at $50,261,000 after acquiring an additional 28,215 shares during the last quarter. Nuveen LLC bought a new position in Federal Agricultural Mortgage during the first quarter worth about $4,667,000. American Century Companies Inc. grew its holdings in Federal Agricultural Mortgage by 11.0% during the first quarter. American Century Companies Inc. now owns 244,550 shares of the credit services provider's stock worth $45,856,000 after purchasing an additional 24,289 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Federal Agricultural Mortgage during the fourth quarter worth about $3,102,000. Finally, Cary Street Partners Financial LLC bought a new position in Federal Agricultural Mortgage during the fourth quarter worth about $2,215,000. Institutional investors and hedge funds own 68.03% of the company's stock.

Federal Agricultural Mortgage Price Performance

Shares of NYSE:AGM traded down $0.05 during trading on Friday, reaching $209.69. 16,873 shares of the company traded hands, compared to its average volume of 73,031. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $2.29 billion, a PE ratio of 12.35, a PEG ratio of 1.07 and a beta of 1.02. The company's 50 day moving average is $187.08 and its two-hundred day moving average is $187.41. Federal Agricultural Mortgage Corporation has a 52 week low of $159.64 and a 52 week high of $217.14.

Federal Agricultural Mortgage (NYSE:AGM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The credit services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.03. The business had revenue of $100.51 million for the quarter, compared to analyst estimates of $96.54 million. Federal Agricultural Mortgage had a net margin of 13.14% and a return on equity of 18.86%. As a group, sell-side analysts predict that Federal Agricultural Mortgage Corporation will post 17.6 earnings per share for the current year.

Federal Agricultural Mortgage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $6.00 annualized dividend and a yield of 2.9%. Federal Agricultural Mortgage's dividend payout ratio is presently 35.34%.

Insider Activity at Federal Agricultural Mortgage

In related news, insider Gregory Ramsey sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $206.71, for a total value of $310,065.00. Following the completion of the transaction, the insider owned 3,085 shares of the company's stock, valued at $637,700.35. This represents a 32.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric T. Mckissack sold 728 shares of the 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 completion of the transaction, the director directly owned 2,357 shares of the company's stock, valued at approximately $453,416.09. The trade was a 23.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,745 shares of company stock worth $1,380,853 in the last 90 days. 2.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price target on Federal Agricultural Mortgage from $215.00 to $217.00 and gave the stock a "market perform" rating in a report on Friday, August 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $217.00.

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.