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

Principal Financial Group Inc. cut its position in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 reporting period.

Several other large investors have also recently modified their holdings of NMRK. Arrowstreet Capital Limited Partnership boosted its position in shares of Newmark Group by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock worth $37,770,000 after purchasing an additional 1,502,372 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Newmark Group by 138.5% during the fourth quarter. Millennium Management LLC now owns 1,916,186 shares of the company's stock worth $24,546,000 after buying an additional 1,112,610 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Newmark Group by 851.7% during the fourth quarter. Wells Fargo & Company MN now owns 848,475 shares of the company's stock worth $10,869,000 after buying an additional 759,324 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Newmark Group during the fourth quarter valued at $5,277,000. Finally, SG Americas Securities LLC increased its position in shares of Newmark Group by 822.8% in the 1st quarter. SG Americas Securities LLC now owns 427,144 shares of the company's stock valued at $5,198,000 after acquiring an additional 380,855 shares during the period. Institutional investors own 58.42% of the company's stock.

Newmark Group Trading Up 1.2%

NMRK stock traded up $0.15 during midday trading on Wednesday, hitting $12.38. 1,152,899 shares of the company's stock were exchanged, compared to its average volume of 1,184,320. Newmark Group, Inc. has a 1-year low of $9.65 and a 1-year high of $16.10. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.28 billion, a PE ratio of 9.34 and a beta of 1.93. The business has a 50-day simple moving average of $11.46 and a two-hundred day simple moving average of $12.26.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. 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 company earned $0.15 EPS. The company's quarterly revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts predict that Newmark Group, Inc. will post 1.45 EPS for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, May 14th. Newmark Group's payout ratio is 30.77%.

Wall Street Analyst Weigh In

Several analysts have weighed in on NMRK shares. The Goldman Sachs Group dropped their price target on Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Piper Sandler cut their price target on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Wall Street Zen upgraded shares of Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. 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 report on Friday, May 23rd. Finally, Keefe, Bruyette & Woods lowered their target price 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $15.25.

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.