Principal Financial Group Inc. Takes Position in Cadre Holdings, Inc. $CDRE

Key Points

• Principal Financial Group acquired 39,192 Cadre Holdings shares worth approximately $1.2 million, giving it a 0.09% stake. Institutional investors collectively own 43.95% of CDRE.
• Cadre insiders have been net sellers, with executives selling 175,000 shares worth about $5.1 million over the past 90 days; CEO Warren B. Kanders sold 50,000 shares for approximately $1.37 million.
• CDRE recently traded at $30.97 and announced a quarterly dividend of $0.10 per share, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $39.80.

Principal Financial Group Inc. acquired a new position in shares of Cadre Holdings, Inc. (NYSE:CDRE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,192 shares of the company's stock, valued at approximately $1,202,000. Principal Financial Group Inc. owned 0.09% of Cadre as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Danske Bank A S lifted its holdings in Cadre by 400.0% in the fourth quarter. Danske Bank A S now owns 1,500 shares of the company's stock valued at $61,000 after buying an additional 1,200 shares during the period. State of Wyoming acquired a new stake in Cadre during the 4th quarter worth about $65,000. Tower Research Capital LLC TRC raised its position in shares of Cadre by 110.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company's stock worth $136,000 after acquiring an additional 2,246 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Cadre by 34.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,300 shares of the company's stock worth $137,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Cadre by 24,275.0% in the 1st quarter. Jones Financial Companies Lllp now owns 4,875 shares of the company's stock worth $144,000 after acquiring an additional 4,855 shares in the last quarter. Institutional investors own 43.95% of the company's stock.

Insider Activity at Cadre

In other news, CEO Warren B. Kanders sold 50,000 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $27.43, for a total transaction of $1,371,500.00. Following the transaction, the chief executive officer directly owned 9,617,039 shares of the company's stock, valued at $263,795,379.77. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 175,000 shares of company stock worth $5,091,500 in the last ninety days. Insiders own 30.10% of the company's stock.

Cadre Stock Up 1.2%

CDRE stock opened at $30.97 on Friday. The stock's 50 day simple moving average is $29.67 and its 200 day simple moving average is $33.97. Cadre Holdings, Inc. has a fifty-two week low of $25.73 and a fifty-two week high of $48.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 2.26. The company has a market cap of $1.33 billion, a P/E ratio of 34.80 and a beta of 1.33.

Cadre Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, July 31st. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. Cadre's payout ratio is currently 44.94%.

Analyst Ratings Changes

CDRE has been the topic of several research analyst reports. Roth Capital restated a "buy" rating and set a $40.00 target price on shares of Cadre in a research report on Wednesday, May 13th. JPMorgan Chase & Co. assumed coverage on Cadre in a report on Monday, July 27th. They issued an "overweight" rating and a $40.00 target price for the company. Weiss Ratings lowered Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Jefferies Financial Group set a $40.00 price target on Cadre in a report on Wednesday, May 13th. Finally, Zacks Research raised shares of Cadre from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.80.

Cadre Company Profile

Cadre NYSE: CDRE is a technology‐driven real estate investment platform that offers accredited and institutional investors direct access to institutional‐grade commercial properties. Established in 2014, Cadre leverages a data-centric approach to identify, underwrite and manage investments in multifamily, office, retail and industrial assets across major U.S. markets. The firm's platform is designed to streamline the investment process, from deal sourcing and due diligence to ongoing asset management and reporting.

Through its online marketplace, Cadre provides a curated selection of equity and preferred equity offerings, allowing investors to participate in individual properties or diversify across a managed portfolio.

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