The Manufacturers Life Insurance Company Sells 2,906 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

The Manufacturers Life Insurance Company cut its stake in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,696 shares of the company’s stock after selling 2,906 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Newmark Group were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NMRK. Barclays PLC boosted its position in Newmark Group by 352.8% during the 3rd quarter. Barclays PLC now owns 227,099 shares of the company’s stock worth $3,526,000 after buying an additional 176,947 shares during the period. Franklin Resources Inc. boosted its position in Newmark Group by 33.2% during the 3rd quarter. Franklin Resources Inc. now owns 107,642 shares of the company’s stock worth $1,597,000 after buying an additional 26,847 shares during the period. Ritholtz Wealth Management acquired a new stake in Newmark Group during the 4th quarter worth approximately $805,000. Empirical Asset Management LLC acquired a new stake in Newmark Group during the 4th quarter worth approximately $1,742,000. Finally, SG Americas Securities LLC boosted its position in Newmark Group by 540.5% during the 4th quarter. SG Americas Securities LLC now owns 46,289 shares of the company’s stock worth $593,000 after buying an additional 39,062 shares during the period. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NMRK. Piper Sandler cut their target price on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price target on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Newmark Group from $14.50 to $14.00 and set an “outperform” rating for the company in a report on Friday, May 2nd.

Newmark Group Stock Down 1.4%

Newmark Group stock opened at $11.70 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group, Inc. has a 52-week low of $9.64 and a 52-week high of $16.10. The firm has a 50 day moving average price of $11.44 and a two-hundred day moving average price of $13.22. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 33.43 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The firm had revenue of $665.49 million during the quarter, compared to analyst estimates of $609.28 million. During the same quarter last year, the business earned $0.15 EPS. The company’s revenue was up 21.8% compared to the same quarter last year. Equities analysts predict that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.12 annualized dividend and a dividend yield of 1.03%. Newmark Group’s dividend payout ratio is currently 30.77%.

About Newmark Group

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.