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

Principal Financial Group Inc. increased its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 159.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,418 shares of the company’s stock after purchasing an additional 118,776 shares during the period. Principal Financial Group Inc. owned 0.11% of Newmark Group worth $2,145,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Paulson & CO. Inc. boosted its stake in shares of Newmark Group by 133.5% in the fourth quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock valued at $32,880,000 after purchasing an additional 1,715,375 shares during the period. American Century Companies Inc. lifted its stake in Newmark Group by 410.2% in the third quarter. American Century Companies Inc. now owns 1,672,287 shares of the company’s stock worth $10,753,000 after acquiring an additional 1,344,514 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Newmark Group by 10.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,220,485 shares of the company’s stock worth $68,178,000 after buying an additional 570,935 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Newmark Group during the 4th quarter worth approximately $4,518,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Newmark Group during the 4th quarter worth approximately $3,349,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Newmark Group in a report on Tuesday, March 26th.

Newmark Group Trading Down 1.5 %

NASDAQ:NMRK traded down $0.15 on Friday, reaching $10.08. The stock had a trading volume of 70,206 shares, compared to its average volume of 1,012,068. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 46.50 and a beta of 2.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s fifty day moving average is $10.16 and its two-hundred day moving average is $10.34. Newmark Group, Inc. has a 12-month low of $5.09 and a 12-month high of $11.51.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Newmark Group had a net margin of 1.47% and a return on equity of 17.03%. The company had revenue of $546.50 million for the quarter, compared to analyst estimates of $526.07 million. During the same period in the prior year, the company earned $0.15 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Newmark Group, Inc. will post 1.12 EPS for the current fiscal year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, May 16th. Newmark Group’s dividend payout ratio is currently 54.55%.

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.