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

Principal Financial Group Inc. decreased its position in Newmark Group, Inc. (NASDAQ:NMRK) by 1.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 191,308 shares of the company’s stock after selling 2,110 shares during the period. Principal Financial Group Inc.’s holdings in Newmark Group were worth $1,957,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NMRK. Charles Schwab Investment Management Inc. raised its position in shares of Newmark Group by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,969,167 shares of the company’s stock valued at $21,582,000 after buying an additional 81,209 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Newmark Group by 221.3% in the 4th quarter. Teacher Retirement System of Texas now owns 36,038 shares of the company’s stock worth $395,000 after acquiring an additional 24,821 shares during the period. BNP Paribas Financial Markets raised its holdings in Newmark Group by 168.5% in the 4th quarter. BNP Paribas Financial Markets now owns 136,034 shares of the company’s stock valued at $1,491,000 after acquiring an additional 85,362 shares during the last quarter. Jump Financial LLC lifted its stake in shares of Newmark Group by 573.7% during the 4th quarter. Jump Financial LLC now owns 99,100 shares of the company’s stock worth $1,086,000 after purchasing an additional 84,391 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in shares of Newmark Group by 15.8% during the fourth quarter. QRG Capital Management Inc. now owns 16,367 shares of the company’s stock worth $179,000 after purchasing an additional 2,228 shares during the last quarter. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Price Performance

NMRK stock opened at $14.76 on Friday. The company has a market cap of $2.55 billion, a PE ratio of 67.09 and a beta of 2.01. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $12.61 and a two-hundred day moving average price of $11.13. Newmark Group, Inc. has a 12-month low of $5.09 and a 12-month high of $14.81.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The business had revenue of $633.40 million for the quarter, compared to analyst estimates of $630.27 million. During the same period in the previous year, the company posted $0.18 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio is presently 54.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NMRK shares. Piper Sandler upped their target price on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $13.50 to $16.50 in a report on Thursday, September 5th. Finally, Wolfe Research upgraded shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 target price for the company in a report on Friday, August 16th.

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.