Principal Financial Group Inc. Sells 88,973 Shares of Newmark Group, Inc. $NMRK

Key Points

• Principal Financial Group cut its stake in Newmark Group by 3.8% in the first quarter, selling 88,973 shares and leaving it with 2.24 million shares worth about $33.6 million.
• Several other institutional investors also adjusted their positions, while 58.42% of NMRK shares remain owned by institutions overall.
• Analysts are generally constructive on the stock, with a “Moderate Buy” consensus and an average price target of $19.62; Newmark also recently raised its quarterly dividend from $0.03 to $0.06 per share.

Principal Financial Group Inc. decreased its stake in Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,241,462 shares of the company's stock after selling 88,973 shares during the period. Principal Financial Group Inc. owned 1.22% of Newmark Group worth $33,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NMRK. Royal Bank of Canada boosted its holdings in Newmark Group by 16.5% in the first quarter. Royal Bank of Canada now owns 44,977 shares of the company's stock valued at $546,000 after acquiring an additional 6,375 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Newmark Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,330 shares of the company's stock valued at $953,000 after purchasing an additional 3,430 shares during the period. Goldman Sachs Group Inc. raised its holdings in Newmark Group by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,481,417 shares of the company's stock worth $30,199,000 after purchasing an additional 55,628 shares during the last quarter. Caxton Associates LLP bought a new position in Newmark Group during the 1st quarter worth approximately $276,000. Finally, Jane Street Group LLC raised its holdings in Newmark Group by 148.3% during the 1st quarter. Jane Street Group LLC now owns 390,633 shares of the company's stock worth $4,754,000 after purchasing an additional 233,330 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NMRK shares. Weiss Ratings raised shares of Newmark Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Citizens Jmp lifted their target price on shares of Newmark Group from $21.00 to $22.00 and gave the stock a "market outperform" rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods boosted their target price on shares of Newmark Group from $18.00 to $18.50 and gave the company an "outperform" rating in a report on Friday, May 1st. Wall Street Zen raised shares of Newmark Group from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. Finally, Piper Sandler reiterated an "overweight" rating and set a $19.00 price target on shares of Newmark Group in a report on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.62.

Newmark Group Price Performance

Newmark Group stock opened at $15.60 on Friday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 19.26 and a beta of 1.68. Newmark Group, Inc. has a 52-week low of $12.20 and a 52-week high of $19.83. The stock's 50 day moving average price is $14.98 and its two-hundred day moving average price is $15.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.48.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.08 EPS for the quarter. The company had revenue of $846.52 million during the quarter. Newmark Group had a net margin of 4.30% and a return on equity of 26.23%. On average, equities analysts predict that Newmark Group, Inc. will post 1.91 earnings per share for the current year.

Newmark Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.06 dividend. The ex-dividend date was Thursday, May 14th. This is a positive change from Newmark Group's previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a yield of 1.5%. Newmark Group's dividend payout ratio is 29.63%.

About Newmark Group

Newmark Group, Inc is a publicly traded commercial real estate advisory firm headquartered in New York City. The company provides a comprehensive suite of services to real estate investors, occupiers and developers, including leasing advisory, property management, capital markets placement, loan servicing, valuation and advisory services. Newmark's platform integrates local market expertise with national reach to support clients across diverse property types such as office, industrial, retail, multifamily and specialty assets.

Operating across two principal segments—global corporate services and capital markets & property-level services—Newmark delivers tailored solutions encompassing tenant representation, landlord leasing, investment sales, debt and equity financing, and appraisal services.

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