Principal Financial Group Inc. Boosts Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

Principal Financial Group Inc. increased its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK - Free Report) by 1,017.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,137,630 shares of the company's stock after purchasing an additional 1,946,322 shares during the period. Principal Financial Group Inc. owned approximately 1.24% of Newmark Group worth $33,197,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NMRK. Allspring Global Investments Holdings LLC increased its stake in shares of Newmark Group by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 36,398 shares of the company's stock valued at $404,000 after purchasing an additional 3,067 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Newmark Group by 14.3% in the 1st quarter. BNP Paribas Financial Markets now owns 155,446 shares of the company's stock worth $1,724,000 after acquiring an additional 19,412 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Newmark Group in the 1st quarter worth about $241,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Newmark Group in the first quarter valued at approximately $135,000. Finally, ProShare Advisors LLC boosted its position in shares of Newmark Group by 7.3% in the first quarter. ProShare Advisors LLC now owns 24,387 shares of the company's stock valued at $270,000 after acquiring an additional 1,650 shares during the period. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Stock Down 1.7 %

Newmark Group stock traded down $0.26 during trading hours on Tuesday, hitting $15.49. The stock had a trading volume of 730,180 shares, compared to its average volume of 1,151,414. Newmark Group, Inc. has a 12-month low of $6.64 and a 12-month high of $16.10. The stock has a market capitalization of $2.66 billion, a P/E ratio of 52.50 and a beta of 2.01. The stock's 50-day moving average price is $14.95 and its 200-day moving average price is $12.48. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Newmark Group had a return on equity of 18.73% and a net margin of 2.00%. The company had revenue of $685.90 million for the quarter, compared to analysts' expectations of $682.07 million. During the same period last year, the firm earned $0.27 EPS. Newmark Group's revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Newmark Group, Inc. will post 1.14 EPS for the current fiscal year.

Newmark Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group's payout ratio is presently 40.00%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Newmark Group from $13.00 to $17.00 and gave the company an "overweight" rating in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods upgraded 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 raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $15.00 price target for the company in a research note 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.