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

Principal Financial Group Inc. boosted its stake in Newmark Group, Inc. (NASDAQ:NMRK) by 61.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,860 shares of the company’s stock after acquiring an additional 9,125 shares during the period. Principal Financial Group Inc.’s holdings in Newmark Group were worth $287,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Federated Hermes Inc. raised its holdings in shares of Newmark Group by 122.7% during the first quarter. Federated Hermes Inc. now owns 3,018 shares of the company’s stock worth $30,000 after purchasing an additional 1,663 shares during the period. Rafferty Asset Management LLC acquired a new stake in shares of Newmark Group during the second quarter worth $153,000. Quantbot Technologies LP acquired a new stake in shares of Newmark Group during the first quarter worth $142,000. Teacher Retirement System of Texas raised its holdings in shares of Newmark Group by 22.3% during the first quarter. Teacher Retirement System of Texas now owns 16,900 shares of the company’s stock worth $169,000 after purchasing an additional 3,082 shares during the period. Finally, FIL Ltd raised its holdings in shares of Newmark Group by 20.6% during the first quarter. FIL Ltd now owns 20,500 shares of the company’s stock worth $205,000 after purchasing an additional 3,500 shares during the period. 55.07% of the stock is currently owned by hedge funds and other institutional investors.

NMRK has been the topic of a number of research reports. Zacks Investment Research raised shares of Newmark Group from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday. Raymond James upped their price target on shares of Newmark Group from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, August 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $16.83.

Shares of NMRK opened at $14.55 on Thursday. The firm has a 50-day moving average price of $13.65 and a 200 day moving average price of $12.52. The firm has a market capitalization of $2.85 billion, a PE ratio of 5.49, a P/E/G ratio of 1.08 and a beta of 1.88. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.43. Newmark Group, Inc. has a 52-week low of $4.28 and a 52-week high of $15.06.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Friday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.09. The firm had revenue of $629.87 million during the quarter, compared to analyst estimates of $551.93 million. Newmark Group had a net margin of 25.07% and a return on equity of 32.63%. On average, equities analysts expect that Newmark Group, Inc. will post 1.25 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Investors of record on Friday, August 20th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. Newmark Group’s dividend payout ratio is presently 4.30%.

About Newmark Group

Newmark Group Inc engages in the provision of commercial real estate services. It offers its services to commercial real estate tenants, investors, owners, occupiers, developers, leasing and corporate advisory, investment sales and real estate finance, consulting, origination and servicing of commercial mortgage loans, valuation, project and development management and property and facility management.

Read More: Cost of Goods Sold (COGS)

Institutional Ownership by Quarter for Newmark Group (NASDAQ:NMRK)

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