Principal Financial Group Inc. Sells 88,973 Shares of Newmark Group, Inc. $NMRK

Principal Financial Group Inc. reduced its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,241,462 shares of the company’s stock after selling 88,973 shares during the quarter. Principal Financial Group Inc.’s holdings in Newmark Group were worth $33,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in Newmark Group by 9,157.7% in the first quarter. Fifth Third Bancorp now owns 8,980 shares of the company’s stock valued at $135,000 after acquiring an additional 8,883 shares during the period. Millstone Evans Group LLC raised its position in shares of Newmark Group by 366.3% during the first quarter. Millstone Evans Group LLC now owns 1,646 shares of the company’s stock worth $25,000 after purchasing an additional 1,293 shares during the period. R Squared Ltd acquired a new position in shares of Newmark Group during the first quarter worth approximately $169,000. DGS Capital Management LLC bought a new position in shares of Newmark Group in the 1st quarter worth $174,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Newmark Group in the 1st quarter worth $315,000. Institutional investors own 58.42% of the company’s stock.

Analyst Ratings Changes

NMRK has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Newmark Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Keefe, Bruyette & Woods raised 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. Weiss Ratings upgraded shares of Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Piper Sandler reiterated an “overweight” rating and set a $19.00 price objective on shares of Newmark Group in a report on Monday, June 29th. Finally, Citizens Jmp boosted their target price on shares of Newmark Group from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Newmark Group currently has an average rating of “Moderate Buy” and an average target price of $19.62.

Newmark Group Trading Down 1.9%

Shares of Newmark Group stock opened at $15.60 on Friday. The stock has a fifty day simple moving average of $14.98 and a 200 day simple moving average of $15.55. Newmark Group, Inc. has a 12-month low of $12.20 and a 12-month high of $19.83. The company has a market capitalization of $2.77 billion, a P/E ratio of 19.26 and a beta of 1.68. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share for the quarter. Newmark Group had a return on equity of 26.23% and a net margin of 4.30%.The business had revenue of $846.52 million for the quarter. On average, sell-side analysts anticipate 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 was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a $0.06 dividend. This is an increase from Newmark Group’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, May 14th. Newmark Group’s dividend payout ratio is currently 29.63%.

Newmark Group 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.