Costamare Inc. (NYSE:CMRE) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Costamare Inc. (NYSE:CMRE) by 34.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,177 shares of the shipping company’s stock after acquiring an additional 15,092 shares during the period. Principal Financial Group Inc. owned 0.05% of Costamare worth $930,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. nVerses Capital LLC grew its stake in shares of Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares during the period. CWM LLC grew its position in Costamare by 53.6% during 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 period. Redwood Wealth Management Group LLC acquired a new stake in Costamare during the second quarter worth about $80,000. Blue Trust Inc. raised its holdings in shares of Costamare by 2,540.4% in the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after purchasing an additional 7,113 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Costamare in the 2nd quarter valued at about $185,000. 58.08% of the stock is owned by institutional investors and hedge funds.

Costamare Trading Up 1.6 %

NYSE:CMRE opened at $14.29 on Friday. Costamare Inc. has a 52 week low of $9.16 and a 52 week high of $17.58. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.68 billion, a PE ratio of 4.75 and a beta of 1.37. The business’s 50 day moving average is $14.37 and its two-hundred day moving average is $14.61.

Costamare (NYSE:CMRE) last released its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $544.64 million for the quarter, compared to analyst estimates of $434.13 million. Costamare had a net margin of 19.11% and a return on equity of 14.28%. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, analysts predict that Costamare Inc. will post 2.83 EPS for the current year.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s payout ratio is currently 15.28%.

Analysts Set New Price Targets

CMRE has been the subject of several research reports. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

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