Resona Asset Management Co. Ltd. Boosts Holdings in Nasdaq, Inc. $NDAQ

Resona Asset Management Co. Ltd. raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,692 shares of the financial services provider’s stock after acquiring an additional 8,860 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Nasdaq were worth $13,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC boosted its stake in Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 120 shares during the period. Access Investment Management LLC purchased a new stake in shares of Nasdaq in the second quarter valued at about $28,000. CVA Family Office LLC raised its holdings in shares of Nasdaq by 137.4% in the second quarter. CVA Family Office LLC now owns 368 shares of the financial services provider’s stock valued at $33,000 after buying an additional 213 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Nasdaq during the first quarter worth about $30,000. Finally, Bayforest Capital Ltd purchased a new position in shares of Nasdaq during the second quarter worth about $37,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Activity

In other news, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the sale, the executive vice president owned 84,974 shares in the company, valued at $7,256,779.60. This trade represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NDAQ. UBS Group upgraded Nasdaq from a “neutral” rating to a “buy” rating and lifted their target price for the company from $95.00 to $115.00 in a research note on Friday, July 25th. Piper Sandler lifted their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Raymond James Financial reissued an “outperform” rating and issued a $100.00 price objective (up from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. The Goldman Sachs Group restated a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. Finally, Morgan Stanley set a $90.00 target price on shares of Nasdaq and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus price target of $99.67.

Nasdaq Trading Up 1.2%

NASDAQ:NDAQ opened at $87.24 on Friday. 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 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $89.61 and a 200-day simple moving average of $88.10. The company has a market capitalization of $49.81 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 1.79 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. On average, equities research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 5th. Nasdaq’s dividend payout ratio is currently 38.57%.

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.