Russell Investments Group Ltd. Has $2.56 Million Holdings in Costamare Inc. (NYSE:CMRE)

Russell Investments Group Ltd. lowered its stake in shares of Costamare Inc. (NYSE:CMRE) by 5.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 200,290 shares of the shipping company’s stock after selling 12,346 shares during the period. Russell Investments Group Ltd. owned approximately 0.17% of Costamare worth $2,562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMRE. Robeco Institutional Asset Management B.V. boosted its position in shares of Costamare by 87.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company’s stock valued at $7,071,000 after buying an additional 257,422 shares during the last quarter. American Century Companies Inc. boosted its holdings in Costamare by 18.8% during the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company’s stock worth $13,845,000 after acquiring an additional 170,412 shares during the last quarter. Essential Planning LLC. bought a new stake in shares of Costamare in the 4th quarter worth $1,718,000. JPMorgan Chase & Co. grew its stake in shares of Costamare by 33.3% in the 4th quarter. JPMorgan Chase & Co. now owns 452,504 shares of the shipping company’s stock worth $5,815,000 after acquiring an additional 112,938 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Costamare in the fourth quarter valued at about $1,399,000. 58.08% of the stock is owned by institutional investors.

Costamare Price Performance

CMRE opened at $8.93 on Friday. Costamare Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $17.58. The firm has a 50-day moving average of $9.93 and a 200 day moving average of $12.09. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. The firm has a market cap of $1.07 billion, a P/E ratio of 3.66 and a beta of 1.11.

Costamare (NYSE:CMRE) last released its earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. On average, research analysts expect that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend is Thursday, April 17th. Costamare’s dividend payout ratio (DPR) is 18.85%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a report on Friday, March 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 target price on shares of Costamare in a report on Wednesday, February 5th.

Costamare Profile