The Manufacturers Life Insurance Company Acquires 4,834 Shares of Newmark Group, Inc. (NASDAQ:NMRK)

The Manufacturers Life Insurance Company grew its position in Newmark Group, Inc. (NASDAQ:NMRK) by 6.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 76,602 shares of the company’s stock after purchasing an additional 4,834 shares during the period. The Manufacturers Life Insurance Company’s holdings in Newmark Group were worth $1,190,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Diversified Trust Co boosted its position in shares of Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock worth $249,000 after purchasing an additional 1,080 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Newmark Group by 251.0% during the second quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after buying an additional 506,510 shares in the last quarter. Leeward Investments LLC MA raised its holdings in shares of Newmark Group by 5.6% in the second quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock valued at $19,514,000 after purchasing an additional 101,426 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Newmark Group in the 2nd quarter valued at $33,000. Finally, Tranquility Partners LLC raised its holdings in Newmark Group by 2.4% during the second quarter. Tranquility Partners LLC now owns 139,064 shares of the company’s stock worth $1,423,000 after acquiring an additional 3,246 shares in the last quarter. Institutional investors own 58.42% of the company’s stock.

Wall Street Analysts Forecast Growth

NMRK has been the topic of several recent analyst reports. The Goldman Sachs Group began coverage on shares of Newmark Group in a research note on Friday, December 6th. They set a “buy” rating and a $19.00 price objective on the stock. Wolfe Research cut Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 25th. Piper Sandler boosted their target price on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th.

Newmark Group Price Performance

NMRK stock opened at $15.08 on Thursday. The company has a market capitalization of $2.58 billion, a P/E ratio of 50.27 and a beta of 1.96. Newmark Group, Inc. has a 52-week low of $8.62 and a 52-week high of $16.10. The company has a fifty day moving average price of $15.10 and a 200-day moving average price of $13.24. 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 (NASDAQ:NMRK) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The firm had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts expect that Newmark Group, Inc. will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.80%. Newmark Group’s dividend payout ratio (DPR) is presently 40.00%.

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.