Principal Financial Group Inc. Has $39.69 Million Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Principal Financial Group Inc. boosted its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 44.9% in the fourth quarter, HoldingsChannel reports. The firm owned 3,098,429 shares of the company’s stock after acquiring an additional 960,799 shares during the period. Principal Financial Group Inc.’s holdings in Newmark Group were worth $39,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NMRK. Rhumbline Advisers increased its stake in shares of Newmark Group by 0.5% in the 4th quarter. Rhumbline Advisers now owns 237,015 shares of the company’s stock valued at $3,036,000 after buying an additional 1,201 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Newmark Group by 32.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 16,473 shares of the company’s stock valued at $211,000 after buying an additional 4,019 shares during the period. Empowered Funds LLC increased its stake in shares of Newmark Group by 5.1% in the 4th quarter. Empowered Funds LLC now owns 787,582 shares of the company’s stock valued at $10,089,000 after buying an additional 38,464 shares during the period. Robertson Stephens Wealth Management LLC increased its stake in shares of Newmark Group by 1.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 319,185 shares of the company’s stock valued at $4,089,000 after buying an additional 5,186 shares during the period. Finally, Choreo LLC increased its stake in shares of Newmark Group by 38.6% in the 4th quarter. Choreo LLC now owns 24,697 shares of the company’s stock valued at $316,000 after buying an additional 6,883 shares during the period. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Stock Down 1.9 %

NASDAQ:NMRK opened at $14.16 on Friday. Newmark Group, Inc. has a 12-month low of $9.44 and a 12-month high of $16.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $2.42 billion, a P/E ratio of 40.46 and a beta of 1.99. The stock’s fifty day simple moving average is $13.46 and its 200-day simple moving average is $14.18.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.07. The firm had revenue of $888.30 million for the quarter, compared to analyst estimates of $790.76 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. Equities research analysts expect that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.12 annualized dividend and a yield of 0.85%. Newmark Group’s dividend payout ratio is presently 34.29%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NMRK shares. Wolfe Research lowered Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 25th. The Goldman Sachs Group started coverage on Newmark Group in a research report on Friday, December 6th. They issued a “buy” rating and a $19.00 price target on the stock.

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.