Citizens Financial Group Inc. RI Purchases Shares of 3,871 Nasdaq, Inc. $NDAQ

Citizens Financial Group Inc. RI purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,871 shares of the financial services provider’s stock, valued at approximately $346,000.

Other hedge funds also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its position in Nasdaq by 7.6% during the second quarter. Avantax Advisory Services Inc. now owns 123,868 shares of the financial services provider’s stock valued at $11,076,000 after acquiring an additional 8,723 shares in the last quarter. Cetera Investment Advisers boosted its stake in Nasdaq by 59.2% in the 2nd quarter. Cetera Investment Advisers now owns 57,298 shares of the financial services provider’s stock valued at $5,124,000 after buying an additional 21,307 shares in the last quarter. Creative Planning grew its stake in Nasdaq by 23.4% during the second quarter. Creative Planning now owns 73,096 shares of the financial services provider’s stock worth $6,536,000 after buying an additional 13,837 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Nasdaq by 32.6% in the second quarter. SG Americas Securities LLC now owns 14,697 shares of the financial services provider’s stock valued at $1,314,000 after buying an additional 3,610 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Nasdaq by 7.1% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 101,381 shares of the financial services provider’s stock valued at $9,065,000 after purchasing an additional 6,744 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Up 0.6%

NDAQ opened at $86.02 on Thursday. The stock has a fifty day moving average of $88.44 and a 200-day moving average of $88.85. The company has a market capitalization of $49.12 billion, a P/E ratio of 30.72, a P/E/G ratio of 1.79 and a beta of 0.98. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99.

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

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders 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 1.3%. The ex-dividend date of this dividend is Friday, December 5th. Nasdaq’s dividend payout ratio (DPR) is presently 38.57%.

Insider Buying and Selling at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total value of $179,767.00. Following the completion of the transaction, the executive vice president owned 84,974 shares of the company’s stock, valued at $7,256,779.60. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on NDAQ shares. UBS Group upgraded shares of Nasdaq from a “neutral” rating to a “buy” rating and upped their target price for the company from $95.00 to $115.00 in a research report on Friday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Raymond James Financial reissued an “outperform” rating and set a $100.00 price target (up from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. Piper Sandler raised their price objective on Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.67.

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.