Principal Financial Group Inc. Has $930,000 Stock Position in Costamare Inc. (NYSE:CMRE)

Principal Financial Group Inc. increased its holdings in Costamare Inc. (NYSE:CMRE) by 34.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,177 shares of the shipping company’s stock after acquiring an additional 15,092 shares during the period. Principal Financial Group Inc.’s holdings in Costamare were worth $930,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CMRE. Unison Advisors LLC raised its stake in shares of Costamare by 1.0% during the 2nd quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company’s stock worth $1,359,000 after purchasing an additional 854 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Costamare by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company’s stock worth $1,225,000 after buying an additional 990 shares during the last quarter. Ballentine Partners LLC raised its position in Costamare by 7.6% during the third quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company’s stock valued at $224,000 after acquiring an additional 1,012 shares in the last quarter. CWM LLC lifted its stake in Costamare by 53.6% in the second quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock valued at $71,000 after acquiring an additional 1,502 shares during the last quarter. Finally, nVerses Capital LLC grew its position in Costamare by 1,700.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after acquiring an additional 1,700 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Costamare Price Performance

Shares of NYSE:CMRE opened at $14.29 on Friday. The firm has a market capitalization of $1.68 billion, a PE ratio of 4.75 and a beta of 1.37. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. Costamare Inc. has a 1-year low of $9.16 and a 1-year high of $17.58. The business’s 50 day moving average is $14.37 and its 200-day moving average is $14.61.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The firm had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. During the same quarter last year, the company earned $0.46 earnings per share. Sell-side analysts predict that Costamare Inc. will post 2.83 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Monday, October 21st. Costamare’s dividend payout ratio (DPR) is currently 15.28%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price target on shares of Costamare in a research note on Friday, November 1st.

Costamare Company Profile