Korea Investment CORP acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 285,719 shares of the financial services provider’s stock, valued at approximately $22,520,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of NDAQ. Legal & General Group Plc grew its position in shares of Nasdaq by 1.6% during the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock worth $277,329,000 after buying an additional 45,783 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Nasdaq by 27.5% in the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider’s stock valued at $5,933,000 after acquiring an additional 13,160 shares in the last quarter. MKP Capital Management L.L.C. bought a new stake in shares of Nasdaq in the fourth quarter valued at about $33,996,000. AlphaCore Capital LLC purchased a new stake in Nasdaq in the fourth quarter worth about $1,245,000. Finally, Advisors Preferred LLC purchased a new stake in Nasdaq in the fourth quarter worth about $4,872,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.
Nasdaq Stock Performance
Shares of NASDAQ NDAQ opened at $98.22 on Monday. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The business has a fifty day moving average price of $89.85 and a 200 day moving average price of $87.97. The stock has a market capitalization of $54.90 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.30 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01.
Nasdaq Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq’s payout ratio is presently 36.15%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Keefe, Bruyette & Woods boosted their price target on shares of Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Barclays reaffirmed an “overweight” rating and issued a $111.00 price target (up from $108.00) on shares of Nasdaq in a research report on Friday, July 24th. Raymond James Financial reiterated an “outperform” rating and set a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Finally, Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $110.30.
View Our Latest Stock Analysis on NDAQ
Insider Transactions at Nasdaq
In related news, EVP Bradley J. Peterson sold 13,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the completion of the sale, the executive vice president owned 128,293 shares of the company’s stock, valued at $11,881,214.73. This represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Pc Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,797 shares of company stock valued at $3,926,319 in the last 90 days. Insiders own 0.60% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.
Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.
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