Nykredit A S purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 962,155 shares of the financial services provider’s stock, valued at approximately $75,837,000.
Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in shares of Nasdaq by 1.6% in the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock valued at $277,329,000 after purchasing an additional 45,783 shares during the period. M&T Bank Corp boosted its position in shares of Nasdaq by 27.5% during 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 purchasing an additional 13,160 shares in the last quarter. MKP Capital Management L.L.C. purchased a new stake in Nasdaq in the fourth quarter worth $33,996,000. AlphaCore Capital LLC purchased a new stake in Nasdaq in the fourth quarter worth $1,245,000. Finally, National Pension Service raised its holdings in Nasdaq by 11.3% in the fourth quarter. National Pension Service now owns 673,919 shares of the financial services provider’s stock worth $65,458,000 after purchasing an additional 68,368 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on NDAQ. Zacks Research raised Nasdaq from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Barclays reaffirmed an “overweight” rating and issued a $111.00 target price (up from $108.00) on shares of Nasdaq in a research report on Friday, July 24th. TD Cowen reiterated a “buy” rating and issued a $105.00 price target (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. Keefe, Bruyette & Woods upped their price objective on shares of Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Finally, Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $110.30.
Insider Buying and Selling
In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction that occurred 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 completion of the sale, the insider owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 13,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the transaction, the executive vice president directly owned 128,293 shares in the company, valued at $11,881,214.73. The trade was a 9.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 41,797 shares of company stock worth $3,926,319. 0.60% of the stock is owned by insiders.
Nasdaq Trading Down 1.9%
Nasdaq stock opened at $95.72 on Thursday. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The business’s fifty day moving average is $92.10 and its 200 day moving average is $88.77. The stock has a market capitalization of $53.51 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.71 and a beta of 0.97. 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 (NASDAQ:NDAQ – Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.Nasdaq’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts predict that Nasdaq, Inc. will post 4.15 EPS for the current year.
Nasdaq Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq’s payout ratio is presently 36.15%.
About Nasdaq
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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