Principal Financial Group Inc. Acquires 29,917 Shares of Federal Agricultural Mortgage Co. (NYSE:AGM)

Principal Financial Group Inc. raised its stake in shares of Federal Agricultural Mortgage Co. (NYSE:AGM) by 10.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 319,701 shares of the credit services provider’s stock after purchasing an additional 29,917 shares during the quarter. Principal Financial Group Inc.’s holdings in Federal Agricultural Mortgage were worth $59,911,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in shares of Federal Agricultural Mortgage in the second quarter worth $36,000. Point72 DIFC Ltd grew its stake in shares of Federal Agricultural Mortgage by 180.0% during the 3rd quarter. Point72 DIFC Ltd now owns 364 shares of the credit services provider’s stock valued at $68,000 after purchasing an additional 234 shares during the period. Fifth Third Bancorp increased its position in shares of Federal Agricultural Mortgage by 160.5% during the 2nd quarter. Fifth Third Bancorp now owns 521 shares of the credit services provider’s stock valued at $94,000 after purchasing an additional 321 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of Federal Agricultural Mortgage in the 2nd quarter worth approximately $108,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Federal Agricultural Mortgage in the second quarter worth approximately $181,000. Hedge funds and other institutional investors own 68.03% of the company’s stock.

Federal Agricultural Mortgage Stock Performance

Shares of NYSE AGM opened at $199.53 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.58. Federal Agricultural Mortgage Co. has a 12-month low of $169.17 and a 12-month high of $217.60. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07. The firm has a 50 day moving average of $201.46 and a 200 day moving average of $192.22.

Federal Agricultural Mortgage (NYSE:AGM) last issued its quarterly earnings data on Monday, November 4th. The credit services provider reported $4.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.04). Federal Agricultural Mortgage had a net margin of 12.59% and a return on equity of 20.14%. The business had revenue of $411.40 million for the quarter, compared to the consensus estimate of $92.15 million. During the same period in the previous year, the firm earned $4.13 EPS. On average, research analysts anticipate that Federal Agricultural Mortgage Co. will post 15.85 earnings per share for the current year.

Federal Agricultural Mortgage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Monday, December 16th. Federal Agricultural Mortgage’s payout ratio is 36.01%.

Insider Transactions at Federal Agricultural Mortgage

In other news, Director Mitchell A. Johnson sold 1,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $211.10, for a total value of $211,100.00. Following the completion of the sale, the director now directly owns 13,060 shares of the company’s stock, valued at $2,756,966. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bradford T. Nordholm sold 5,073 shares of Federal Agricultural Mortgage stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $213.37, for a total transaction of $1,082,426.01. Following the transaction, the chief executive officer now owns 41,104 shares in the company, valued at approximately $8,770,360.48. This trade represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,573 shares of company stock valued at $1,808,561 over the last quarter. 2.58% of the stock is currently owned by company insiders.

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.