Principal Financial Group Inc. Decreases Holdings in Newmark Group, Inc. $NMRK

Principal Financial Group Inc. lessened its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,330,435 shares of the company’s stock after selling 53,355 shares during the period. Principal Financial Group Inc.’s holdings in Newmark Group were worth $40,410,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NMRK. Assenagon Asset Management S.A. increased its stake in shares of Newmark Group by 319.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,604,326 shares of the company’s stock worth $27,819,000 after purchasing an additional 1,222,069 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Newmark Group in the second quarter worth about $14,580,000. Ameriprise Financial Inc. increased its stake in shares of Newmark Group by 88.9% in the second quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company’s stock worth $30,622,000 after purchasing an additional 1,186,191 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Newmark Group by 194.1% in the third quarter. Wellington Management Group LLP now owns 1,575,475 shares of the company’s stock worth $29,383,000 after purchasing an additional 1,039,798 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Newmark Group by 84.5% in the second quarter. Raymond James Financial Inc. now owns 1,336,702 shares of the company’s stock worth $16,241,000 after purchasing an additional 612,363 shares in the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Trading Down 0.8%

Shares of Newmark Group stock opened at $16.73 on Friday. Newmark Group, Inc. has a 1 year low of $10.20 and a 1 year high of $19.83. The firm has a market cap of $3.09 billion, a PE ratio of 20.65 and a beta of 1.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.51 and a quick ratio of 0.51. The company has a 50 day simple moving average of $15.16 and a two-hundred day simple moving average of $16.42.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $846.52 million during the quarter. Newmark Group had a net margin of 4.30% and a return on equity of 26.46%. Analysts expect that Newmark Group, Inc. will post 1.91 earnings per share for the current fiscal year.

Newmark Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This is a positive change from Newmark Group’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. Newmark Group’s payout ratio is presently 14.81%.

Wall Street Analyst Weigh In

NMRK has been the subject of several recent analyst reports. Wall Street Zen raised shares of Newmark Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Newmark Group from $18.00 to $18.50 and gave the company an “outperform” rating in a research note on Friday, May 1st. Barclays reduced their price objective on shares of Newmark Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. Citizens Jmp boosted their price objective on shares of Newmark Group from $21.00 to $22.00 and gave the company a “market outperform” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Newmark Group in a research note on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.50.

Newmark Group Company Profile

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.