Allianz Asset Management GmbH Lowers Holdings in Nasdaq, Inc. $NDAQ

Allianz Asset Management GmbH lessened its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 28.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,129 shares of the financial services provider’s stock after selling 76,101 shares during the quarter. Allianz Asset Management GmbH’s holdings in Nasdaq were worth $16,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Bruce G. Allen Investments LLC raised its position in Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after buying an additional 120 shares during the last quarter. First Command Advisory Services Inc. purchased a new position in Nasdaq in the 1st quarter worth about $30,000. Bayforest Capital Ltd purchased a new position in Nasdaq in the 2nd quarter worth about $37,000. AlphaQuest LLC purchased a new position in Nasdaq in the 1st quarter worth about $34,000. Finally, Olde Wealth Management LLC purchased a new position in Nasdaq in the 1st quarter worth about $40,000. 72.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NDAQ has been the subject of a number of recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research report on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Nasdaq in a research report on Tuesday, October 14th. Oppenheimer reissued an “outperform” rating and issued a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Barclays reissued an “overweight” rating and issued a $108.00 target price (down previously from $109.00) on shares of Nasdaq in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $90.00 price target on Nasdaq and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.50.

Nasdaq Trading Up 0.3%

Nasdaq stock opened at $88.86 on Tuesday. The business has a 50-day simple moving average of $91.76 and a two-hundred day simple moving average of $86.62. The company has a market cap of $50.99 billion, a P/E ratio of 34.18, a P/E/G ratio of 1.98 and a beta of 0.98. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73.

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

Nasdaq Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the transaction, the executive vice president directly owned 92,551 shares in the company, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michelle Lynn Daly sold 8,691 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares of the company’s stock, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

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.