Newmark Group, Inc. (NASDAQ:NMRK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent filing with the SEC. 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 approximately 1.64% of Newmark Group worth $36,001,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Financial Management Professionals Inc. purchased a new position in shares of Newmark Group in the 1st quarter valued at approximately $26,000. Sterling Capital Management LLC increased its holdings in shares of Newmark Group by 813.9% in the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock worth $53,000 after purchasing an additional 3,695 shares in the last quarter. KBC Group NV bought a new stake in shares of Newmark Group in the 1st quarter worth $78,000. Assetmark Inc. increased its holdings in shares of Newmark Group by 43.5% in the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company's stock worth $110,000 after purchasing an additional 2,602 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Newmark Group by 48.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock worth $120,000 after acquiring an additional 3,070 shares during the period. Hedge funds and other institutional investors own 58.42% of the company's stock.

Newmark Group Trading Down 0.6%

Shares of NMRK traded down $0.07 during mid-day trading on Friday, reaching $12.56. 921,691 shares of the company's stock traded hands, compared to its average volume of 1,184,952. 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 $2.32 billion, a P/E ratio of 32.21 and a beta of 1.93. The stock's 50-day moving average is $11.55 and its two-hundred day moving average is $12.26. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.47 and a quick ratio of 0.47.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $609.28 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Newmark Group's revenue was up 21.8% compared to the same quarter last year. Research analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on NMRK shares. Piper Sandler cut 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. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. The Goldman Sachs Group decreased their target price on Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective on the stock in a research note on Friday, May 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $15.25.

Newmark Group Company 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.