Bank of New York Mellon Corp Cuts Stock Holdings in Newmark Group, Inc. (NASDAQ:NMRK)

Bank of New York Mellon Corp decreased its position in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,765,200 shares of the company’s stock after selling 146,655 shares during the quarter. Bank of New York Mellon Corp owned 1.03% of Newmark Group worth $22,612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NMRK. Principal Financial Group Inc. boosted its holdings in Newmark Group by 1,017.4% in the third quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock worth $33,197,000 after purchasing an additional 1,946,322 shares during the last quarter. Assetmark Inc. purchased a new stake in Newmark Group in the third quarter worth approximately $93,000. Victory Capital Management Inc. boosted its holdings in Newmark Group by 7.1% in the third quarter. Victory Capital Management Inc. now owns 106,138 shares of the company’s stock worth $1,648,000 after purchasing an additional 7,005 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Newmark Group in the third quarter worth approximately $178,000. Finally, Empowered Funds LLC boosted its holdings in Newmark Group by 5.4% in the third quarter. Empowered Funds LLC now owns 749,118 shares of the company’s stock worth $11,634,000 after purchasing an additional 38,195 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Analyst Ratings Changes

NMRK has been the topic of several analyst reports. Wolfe Research cut shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th. The Goldman Sachs Group initiated coverage on shares of Newmark Group in a research note on Friday, December 6th. They set a “buy” rating and a $19.00 price target on the stock.

Newmark Group Trading Down 5.6 %

Shares of Newmark Group stock opened at $12.54 on Tuesday. The company’s fifty day simple moving average is $13.59 and its 200-day simple moving average is $14.33. The stock has a market capitalization of $2.26 billion, a PE ratio of 35.83 and a beta of 1.96. Newmark Group, Inc. has a 1-year low of $9.44 and a 1-year high of $16.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Friday, February 14th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. The firm had revenue of $888.30 million for the quarter, compared to the consensus estimate of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company’s revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. As a group, equities analysts anticipate that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given 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 dividend yield of 0.96%. Newmark Group’s payout ratio is 34.29%.

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.