Principal Financial Group Inc. Has $36 Million Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Principal Financial Group Inc. trimmed its position in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,958,202 shares of the company's stock after selling 140,227 shares during the quarter. Principal Financial Group Inc. owned 1.64% of Newmark Group worth $36,001,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in Newmark Group in the 4th quarter valued at approximately $274,000. Victory Capital Management Inc. grew its stake in shares of Newmark Group by 14.3% during the fourth quarter. Victory Capital Management Inc. now owns 121,315 shares of the company's stock valued at $1,554,000 after acquiring an additional 15,177 shares in the last quarter. Assetmark Inc. lifted its position in shares of Newmark Group by 43.5% during the fourth quarter. Assetmark Inc. now owns 8,585 shares of the company's stock worth $110,000 after purchasing an additional 2,602 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Newmark Group in the fourth quarter valued at approximately $4,785,000. Finally, Inceptionr LLC boosted its stake in Newmark Group by 21.7% in the fourth quarter. Inceptionr LLC now owns 25,976 shares of the company's stock valued at $333,000 after acquiring an additional 4,637 shares during the period. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Price Performance

Shares of NASDAQ:NMRK traded up $0.23 during midday trading on Thursday, reaching $12.61. 302,546 shares of the company's stock were exchanged, compared to its average volume of 1,180,885. The company's 50 day simple moving average is $11.46 and its two-hundred day simple moving average is $12.26. The firm has a market capitalization of $2.33 billion, a PE ratio of 32.32 and a beta of 1.93. Newmark Group, Inc. has a 12 month low of $9.65 and a 12 month high of $16.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 0.47.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. Newmark Group had a net margin of 2.39% and a return on equity of 21.85%. The firm had revenue of $665.49 million during the quarter, compared to the consensus estimate of $609.28 million. During the same period last year, the firm posted $0.15 EPS. The firm's quarterly revenue was up 21.8% on a year-over-year basis. Equities research analysts expect that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, May 14th. Newmark Group's payout ratio is 30.77%.

Analyst Ratings Changes

A number of research firms recently weighed in on NMRK. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Keefe, Bruyette & Woods reduced their price target on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group decreased their price target on Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Piper Sandler lowered their price target on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Wolfe Research upgraded shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target on the stock in a research report on Friday, May 23rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $15.25.

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.