Northern Trust Corp Has $17.25 Million Position in Newmark Group, Inc. $NMRK

Key Points

• Northern Trust Corp reduced its stake in Newmark Group, Inc. by 3.9%, holding 1,417,762 shares valued at $17.25 million after selling 57,062 shares in the first quarter.
• Newmark Group reported a 19.9% year-over-year increase in revenue, reaching $759.10 million, and exceeded EPS estimates by $0.05, reporting $0.31 EPS for the quarter.
• The company has announced a quarterly dividend of $0.03, reflecting a 0.7% dividend yield and a payout ratio of 28.57% as of the last payment date.

Northern Trust Corp lessened its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,417,762 shares of the company's stock after selling 57,062 shares during the period. Northern Trust Corp owned 0.79% of Newmark Group worth $17,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Algert Global LLC boosted its position in Newmark Group by 415.3% during the first quarter. Algert Global LLC now owns 393,602 shares of the company's stock worth $4,790,000 after purchasing an additional 317,216 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of Newmark Group by 93.9% during the 1st quarter. Raymond James Financial Inc. now owns 724,339 shares of the company's stock worth $8,815,000 after buying an additional 350,807 shares during the period. Sei Investments Co. boosted its holdings in shares of Newmark Group by 1.2% during the 1st quarter. Sei Investments Co. now owns 122,117 shares of the company's stock worth $1,519,000 after buying an additional 1,426 shares during the period. Boston Partners grew its stake in Newmark Group by 593.5% in the 1st quarter. Boston Partners now owns 1,339,730 shares of the company's stock valued at $16,299,000 after buying an additional 1,146,544 shares during the last quarter. Finally, Nuveen LLC bought a new position in Newmark Group in the 1st quarter valued at about $21,497,000. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Price Performance

Newmark Group stock opened at $17.68 on Wednesday. The firm has a market cap of $3.12 billion, a PE ratio of 42.10 and a beta of 2.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.39 and a quick ratio of 0.39. The stock's fifty day moving average price is $14.80 and its two-hundred day moving average price is $12.86. Newmark Group, Inc. has a one year low of $9.65 and a one year high of $18.59.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%.The company had revenue of $759.10 million for the quarter, compared to analyst estimates of $695.24 million. During the same period in the prior year, the firm posted $0.22 EPS. Newmark Group's quarterly revenue was up 19.9% on a year-over-year basis. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. As a group, research analysts expect that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 14th. Newmark Group's dividend payout ratio (DPR) is currently 28.57%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NMRK shares. Piper Sandler boosted their price objective on Newmark Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target for the company in a research note on Friday, May 23rd. JMP Securities upped their price objective on Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods lifted their target price on Newmark Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $16.83.

Newmark Group Profile

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.

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