Principal Financial Group Inc. Acquires Shares of 39,192 Cadre Holdings, Inc. $CDRE

Principal Financial Group Inc. acquired a new stake in shares of Cadre Holdings, Inc. (NYSE:CDRE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 39,192 shares of the company’s stock, valued at approximately $1,202,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in shares of Cadre in the 4th quarter worth about $22,875,000. Reinhart Partners LLC. lifted its position in Cadre by 12.9% in the 4th quarter. Reinhart Partners LLC. now owns 2,170,349 shares of the company’s stock valued at $88,638,000 after acquiring an additional 247,458 shares in the last quarter. Fred Alger Management LLC boosted its stake in Cadre by 46.8% during the 4th quarter. Fred Alger Management LLC now owns 623,730 shares of the company’s stock valued at $25,473,000 after purchasing an additional 198,750 shares during the last quarter. Agman Capital LLC acquired a new position in Cadre during the 4th quarter valued at about $7,364,000. Finally, Earnest Partners LLC bought a new stake in Cadre during the 4th quarter worth approximately $5,946,000. 43.95% of the stock is owned by institutional investors.

Cadre Stock Performance

Shares of CDRE opened at $30.97 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 34.80 and a beta of 1.33. The stock has a 50 day moving average of $29.67 and a 200 day moving average of $33.97. Cadre Holdings, Inc. has a 12 month low of $25.73 and a 12 month high of $48.76.

Cadre Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, July 31st. Cadre’s dividend payout ratio is 44.94%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CDRE shares. Jefferies Financial Group set a $40.00 price objective on Cadre in a research note on Wednesday, May 13th. Roth Capital reaffirmed a “buy” rating and set a $40.00 target price on shares of Cadre in a research report on Wednesday, May 13th. Weiss Ratings downgraded Cadre from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. began coverage on Cadre in a research report on Monday, July 27th. They issued an “overweight” rating and a $40.00 price target for the company. Finally, Zacks Research upgraded Cadre from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

Insider Transactions at Cadre

In other news, CEO Warren B. Kanders sold 100,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $30.03, for a total transaction of $3,003,000.00. Following the completion of the sale, the chief executive officer directly owned 9,817,039 shares of the company’s stock, valued at $294,805,681.17. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 175,000 shares of company stock valued at $5,091,500. 30.10% of the stock is owned by corporate insiders.

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.