Legal & General Group Plc acquired a new position in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,792,814 shares of the financial services provider’s stock, valued at approximately $220,130,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fiduciary Financial Advisors bought a new position in Nasdaq during the 2nd quarter worth $25,000. MV Capital Management Inc. bought a new stake in shares of Nasdaq in the 4th quarter valued at about $28,000. Nemes Rush Group LLC bought a new stake in shares of Nasdaq in the 4th quarter valued at about $35,000. Uniplan Investment Counsel Inc. acquired a new stake in shares of Nasdaq in the fourth quarter valued at about $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in shares of Nasdaq in the fourth quarter valued at about $37,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Nasdaq Trading Up 0.7%
Shares of NDAQ stock opened at $99.47 on Thursday. The firm has a market cap of $55.60 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 1.31 and a beta of 0.97. The business has a 50-day moving average price of $90.52 and a two-hundred day moving average price of $88.22. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79.
Nasdaq Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is 36.15%.
Insider Transactions at Nasdaq
In related news, major shareholder Ab Investor bought 56,782 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the purchase, the insider owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the transaction, the insider directly owned 205,001 shares of the company’s stock, valued at $19,751,846.35. This represents a 5.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 41,797 shares of company stock valued at $3,926,319. Company insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on NDAQ. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Raymond James Financial reiterated an “outperform” rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Zacks Research upgraded Nasdaq from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Finally, Barclays reaffirmed an “overweight” rating and set a $111.00 target price (up from $108.00) on shares of Nasdaq in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $110.30.
View Our Latest Stock Analysis on Nasdaq
Nasdaq 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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