Principal Financial Group Inc. Buys 118,776 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

Principal Financial Group Inc. lifted its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 159.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 193,418 shares of the company’s stock after acquiring an additional 118,776 shares during the quarter. Principal Financial Group Inc.’s holdings in Newmark Group were worth $2,145,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Riverview Trust Co bought a new position in Newmark Group in the 1st quarter worth approximately $29,000. AXQ Capital LP bought a new position in shares of Newmark Group during the 3rd quarter valued at approximately $76,000. Evergreen Capital Management LLC boosted its position in shares of Newmark Group by 11.8% during the 3rd quarter. Evergreen Capital Management LLC now owns 13,739 shares of the company’s stock valued at $88,000 after acquiring an additional 1,455 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Newmark Group during the 4th quarter valued at approximately $119,000. Finally, New York State Teachers Retirement System bought a new position in shares of Newmark Group during the 4th quarter valued at approximately $135,000. 58.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Newmark Group Stock Down 1.5 %

Shares of Newmark Group stock traded down $0.15 during trading on Friday, hitting $10.08. 70,206 shares of the stock traded hands, compared to its average volume of 1,012,068. The firm has a market cap of $1.74 billion, a P/E ratio of 46.50 and a beta of 2.02. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. Newmark Group, Inc. has a 52-week low of $5.09 and a 52-week high of $11.51. The stock’s fifty day simple moving average is $10.16 and its 200 day simple moving average is $10.34.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The firm had revenue of $546.50 million for the quarter, compared to analysts’ expectations of $526.07 million. Newmark Group had a net margin of 1.47% and a return on equity of 17.03%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 EPS. On average, equities analysts predict that Newmark Group, Inc. will post 1.12 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

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