Principal Financial Group Inc. Sells 140,227 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Principal Financial Group Inc. decreased its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NMRK. Barclays PLC grew its holdings in shares of Newmark Group by 0.3% during the fourth quarter. Barclays PLC now owns 227,866 shares of the company's stock worth $2,919,000 after buying an additional 767 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Newmark Group by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 79,900 shares of the company's stock worth $1,024,000 after buying an additional 1,035 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Newmark Group by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company's stock worth $420,000 after buying an additional 1,286 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Newmark Group by 2.7% during the fourth quarter. Cetera Investment Advisers now owns 53,635 shares of the company's stock worth $687,000 after buying an additional 1,385 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Newmark Group by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,900 shares of the company's stock worth $959,000 after buying an additional 1,653 shares in the last quarter. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Trading Down 1.4%

Shares of NASDAQ NMRK traded down $0.18 during trading on Friday, reaching $12.46. The company had a trading volume of 88,723 shares, compared to its average volume of 1,180,658. The company's fifty day moving average price is $11.49 and its 200-day moving average price is $12.26. Newmark Group, Inc. has a 12 month low of $9.65 and a 12 month high of $16.10. The stock has a market cap of $2.30 billion, a P/E ratio of 31.94 and a beta of 1.93. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.50.

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

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Wednesday, May 14th. Newmark Group's payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NMRK. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. The Goldman Sachs Group reduced 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. 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. Keefe, Bruyette & Woods dropped their price objective on Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Piper Sandler dropped their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average 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.