US Bancorp DE Buys 16,950 Shares of Nasdaq, Inc. $NDAQ

US Bancorp DE boosted its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 35.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,153 shares of the financial services provider’s stock after acquiring an additional 16,950 shares during the period. US Bancorp DE’s holdings in Nasdaq were worth $5,737,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vontobel Holding Ltd. boosted its holdings in Nasdaq by 10.5% in the second quarter. Vontobel Holding Ltd. now owns 22,720 shares of the financial services provider’s stock valued at $2,032,000 after acquiring an additional 2,160 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Nasdaq by 4.1% in the second quarter. Maryland State Retirement & Pension System now owns 20,044 shares of the financial services provider’s stock valued at $1,792,000 after acquiring an additional 790 shares in the last quarter. Raub Brock Capital Management LP bought a new stake in Nasdaq in the second quarter valued at $14,134,000. Mirova US LLC bought a new stake in Nasdaq in the second quarter valued at $5,804,000. Finally, Shell Asset Management Co. boosted its holdings in Nasdaq by 113.4% in the second quarter. Shell Asset Management Co. now owns 46,765 shares of the financial services provider’s stock valued at $4,182,000 after acquiring an additional 24,852 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the transaction, the executive vice president owned 92,551 shares of the company’s stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president directly owned 8,879 shares of the company’s stock, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $88.90 on Monday. The stock has a market cap of $51.01 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.02 and a beta of 0.98. The firm’s 50-day moving average is $92.68 and its 200 day moving average is $86.01. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business posted $0.69 EPS. Nasdaq’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s payout ratio is 41.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NDAQ. Citigroup restated a “neutral” rating on shares of Nasdaq in a report on Wednesday, July 9th. Raymond James Financial restated an “outperform” rating and set a $96.00 target price (up previously from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. The Goldman Sachs Group restated a “buy” rating on shares of Nasdaq in a report on Friday, July 25th. Piper Sandler boosted their target price on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a report on Saturday, September 27th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.25.

About Nasdaq

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.