Ameriprise Financial Inc. Has $17 Million Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

Ameriprise Financial Inc. cut its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,327,042 shares of the company's stock after selling 150,250 shares during the period. Ameriprise Financial Inc. owned approximately 0.78% of Newmark Group worth $16,999,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its position in shares of Newmark Group by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock valued at $37,770,000 after purchasing an additional 1,502,372 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Newmark Group by 44.9% during the 4th quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company's stock valued at $39,691,000 after purchasing an additional 960,799 shares during the period. Wells Fargo & Company MN grew its holdings in Newmark Group by 851.7% in the 4th quarter. Wells Fargo & Company MN now owns 848,475 shares of the company's stock valued at $10,869,000 after buying an additional 759,324 shares during the last quarter. Raymond James Financial Inc. bought a new position in Newmark Group in the 4th quarter worth approximately $4,785,000. Finally, Norges Bank bought a new position in Newmark Group in the 4th quarter worth approximately $3,307,000. 58.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group cut their target price on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Finally, Piper Sandler decreased their price target on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th.

Newmark Group Price Performance

Shares of NASDAQ:NMRK traded down $0.04 on Thursday, hitting $10.25. The stock had a trading volume of 93,638 shares, compared to its average volume of 1,135,977. The firm's 50 day moving average price is $11.33 and its 200-day moving average price is $13.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a twelve month low of $9.64 and a twelve month high of $16.10. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 29.29 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $665.49 million during the quarter, compared to analyst estimates of $609.28 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company's revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. On average, equities research analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th will be given a $0.03 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 1.17%. Newmark Group's payout ratio is 30.77%.

About Newmark Group

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.