Cullen Frost Bankers Inc. Has $9.14 Million Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Cullen Frost Bankers Inc. lowered its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 157,169 shares of the financial services provider’s stock after selling 13,987 shares during the period. Cullen Frost Bankers Inc.’s holdings in Nasdaq were worth $9,138,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Nasdaq by 214.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,281,617 shares of the financial services provider’s stock worth $305,224,000 after acquiring an additional 4,280,846 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Nasdaq by 16.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,787,784 shares of the financial services provider’s stock worth $232,564,000 after buying an additional 681,238 shares during the period. Northern Trust Corp grew its stake in Nasdaq by 5.4% in the 3rd quarter. Northern Trust Corp now owns 3,363,894 shares of the financial services provider’s stock valued at $163,452,000 after buying an additional 171,959 shares during the last quarter. Invesco Ltd. raised its holdings in Nasdaq by 16.7% in the 3rd quarter. Invesco Ltd. now owns 2,654,180 shares of the financial services provider’s stock valued at $128,967,000 after acquiring an additional 378,936 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in Nasdaq by 5.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,625,448 shares of the financial services provider’s stock worth $152,644,000 after acquiring an additional 127,978 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the sale, the insider now owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan Everard Smith sold 3,036 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total transaction of $181,826.04. Following the transaction, the executive vice president now directly owns 58,636 shares of the company’s stock, valued at approximately $3,511,710.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,010,436 shares of company stock worth $1,798,647,360. Corporate insiders own 0.75% of the company’s stock.

Nasdaq Price Performance

NASDAQ:NDAQ traded down $0.99 during trading hours on Wednesday, hitting $59.91. The company’s stock had a trading volume of 2,585,321 shares, compared to its average volume of 3,171,051. Nasdaq, Inc. has a twelve month low of $46.88 and a twelve month high of $64.25. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a fifty day simple moving average of $60.54 and a 200-day simple moving average of $57.05. The company has a market capitalization of $34.46 billion, a P/E ratio of 31.53, a PEG ratio of 3.36 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. On average, analysts anticipate that Nasdaq, Inc. will post 2.69 EPS for the current fiscal year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, June 14th. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. Nasdaq’s payout ratio is presently 50.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays decreased their target price on Nasdaq from $76.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Citigroup increased their price objective on Nasdaq from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Edward Jones initiated coverage on shares of Nasdaq in a research report on Wednesday, April 3rd. They issued a “buy” rating for the company. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $59.00 to $80.00 in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group raised shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.92.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.