142,165 Shares in Costamare Inc. $CMRE Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management acquired 142,165 Costamare shares worth approximately $1.99 million, while other institutional investors also increased their positions. Hedge funds and institutions collectively own 58.08% of the company.
• Costamare reported quarterly EPS of $0.62, beating estimates by $0.05, while revenue of $196.24 million also exceeded expectations. The company posted a 39.66% net margin and 15.11% return on equity.
• The company raised its quarterly dividend to $0.125, or $0.50 annually, representing a 3.3% yield. Shares recently traded near $15.03, while analysts maintain a “Moderate Buy” consensus with a $12.00 average price target.

Allianz Asset Management GmbH purchased a new position in shares of Costamare Inc. (NYSE:CMRE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 142,165 shares of the shipping company's stock, valued at approximately $1,993,000. Allianz Asset Management GmbH owned 0.12% of Costamare at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Millennium Management LLC acquired a new position in shares of Costamare during the first quarter worth about $6,075,000. Goldman Sachs Group Inc. lifted its stake in Costamare by 113.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,116,647 shares of the shipping company's stock worth $17,632,000 after acquiring an additional 593,734 shares during the last quarter. Marshall Wace LLP grew its holdings in Costamare by 527.7% during the 2nd quarter. Marshall Wace LLP now owns 703,932 shares of the shipping company's stock worth $6,413,000 after acquiring an additional 591,785 shares in the last quarter. Globeflex Capital L P acquired a new position in Costamare during the 2nd quarter worth approximately $6,651,000. Finally, VestGen Advisors LLC acquired a new stake in shares of Costamare in the 4th quarter valued at $5,455,000. Institutional investors and hedge funds own 58.08% of the company's stock.

Costamare Stock Up 0.9%

Costamare stock opened at $15.03 on Thursday. Costamare Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $18.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.57 and a current ratio of 1.61. The company has a market capitalization of $1.82 billion, a P/E ratio of 5.71 and a beta of 1.01. The stock has a 50-day simple moving average of $15.09 and a 200-day simple moving average of $16.03.

Costamare (NYSE:CMRE - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The shipping company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. Costamare had a net margin of 39.66% and a return on equity of 15.11%. The firm had revenue of $196.24 million during the quarter, compared to the consensus estimate of $193.16 million.

Costamare Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Tuesday, July 21st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from Costamare's previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, July 21st. Costamare's dividend payout ratio (DPR) is presently 19.01%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Costamare in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

Insiders Place Their Bets

In other Costamare news, CFO Grigorios Zikos sold 59,840 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $15.34, for a total value of $917,945.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.20% of the stock is owned by corporate insiders.

Costamare Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.

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