JPMorgan Chase & Co. Has $19.01 Million Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

JPMorgan Chase & Co. lifted its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 13.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,223,807 shares of the company’s stock after buying an additional 143,251 shares during the period. JPMorgan Chase & Co.’s holdings in Newmark Group were worth $19,006,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NMRK. Creative Planning boosted its stake in Newmark Group by 3.0% during the second quarter. Creative Planning now owns 39,393 shares of the company’s stock worth $403,000 after acquiring an additional 1,131 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Newmark Group by 6.1% during the second quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock valued at $253,000 after purchasing an additional 1,420 shares during the period. Mackenzie Financial Corp boosted its position in shares of Newmark Group by 21.0% during the 2nd quarter. Mackenzie Financial Corp now owns 12,389 shares of the company’s stock worth $127,000 after purchasing an additional 2,153 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Newmark Group by 19.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,526 shares of the company’s stock valued at $149,000 after buying an additional 2,324 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Newmark Group by 6.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 76,602 shares of the company’s stock valued at $1,190,000 after buying an additional 4,834 shares in the last quarter. Institutional investors and hedge funds own 58.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NMRK. Wolfe Research cut Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th. The Goldman Sachs Group started coverage on Newmark Group in a report on Friday, December 6th. They issued a “buy” rating and a $19.00 target price on the stock.

Newmark Group Price Performance

Shares of NASDAQ NMRK opened at $12.40 on Friday. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 41.33 and a beta of 1.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a fifty-two week low of $9.22 and a fifty-two week high of $16.10. The firm’s 50-day simple moving average is $14.37 and its 200 day simple moving average is $13.66.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The company had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. During the same quarter last year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, research analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Thursday, November 21st. Newmark Group’s dividend payout ratio is 40.00%.

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.