MassMutual Private Wealth & Trust FSB trimmed its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,521 shares of the financial services provider’s stock after selling 217 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Nasdaq were worth $494,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in Nasdaq by 7.7% during the first quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider’s stock worth $3,274,000 after purchasing an additional 3,096 shares in the last quarter. USA Financial Formulas raised its holdings in shares of Nasdaq by 61.1% in the first quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider’s stock worth $1,353,000 after acquiring an additional 6,764 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Nasdaq by 1.2% in the first quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider’s stock worth $172,098,000 after acquiring an additional 27,622 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Nasdaq in the fourth quarter worth $48,749,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in shares of Nasdaq in the first quarter worth $222,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.
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Nasdaq Trading Up 0.6%
Shares of NDAQ opened at $93.10 on Thursday. The company has a market capitalization of $53.42 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.03 and a beta of 1.02. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50-day moving average price of $93.79 and a 200 day moving average price of $84.40.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.Nasdaq’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 earnings per share. Sell-side analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.
Nasdaq Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s dividend payout ratio is currently 41.54%.
Insider Activity at Nasdaq
In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares of the company’s stock, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the transaction, the executive vice president directly owned 111,035 shares in the company, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,409 shares of company stock valued at $2,223,599. Insiders own 0.70% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on NDAQ. Deutsche Bank Aktiengesellschaft boosted their price target on Nasdaq from $97.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Raymond James Financial reissued an “outperform” rating and issued a $96.00 price target (up from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. UBS Group raised Nasdaq from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $115.00 in a report on Friday, July 25th. Oppenheimer reissued an “outperform” rating and issued a $101.00 price target (up from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada upped their target price on Nasdaq from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.06.
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About Nasdaq
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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.
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