Nasdaq, Inc. $NDAQ Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 1.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,226 shares of the financial services provider’s stock after selling 1,971 shares during the quarter. TD Asset Management Inc’s holdings in Nasdaq were worth $13,344,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of Nasdaq by 7.7% in the first quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider’s stock valued at $3,274,000 after buying an additional 3,096 shares in the last quarter. Principal Financial Group Inc. grew its stake in Nasdaq by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider’s stock valued at $172,098,000 after purchasing an additional 27,622 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in Nasdaq during the 1st quarter valued at approximately $222,000. Manning & Napier Advisors LLC grew its stake in Nasdaq by 3.9% during the 1st quarter. Manning & Napier Advisors LLC now owns 861,437 shares of the financial services provider’s stock valued at $65,349,000 after purchasing an additional 32,004 shares in the last quarter. Finally, 111 Capital grew its stake in Nasdaq by 67.0% during the 2nd quarter. 111 Capital now owns 11,089 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 4,450 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Activity at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the sale, the executive vice president owned 92,551 shares of the company’s stock, valued at approximately $8,837,694.99. This trade represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the sale, the senior vice president directly owned 8,879 shares in the company, valued at $829,742.55. The trade was a 49.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

NDAQ has been the subject of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and set a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Raymond James Financial restated an “outperform” rating and set a $100.00 price objective (up previously from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. UBS Group upgraded Nasdaq from a “neutral” rating to a “buy” rating and raised their price objective for the company from $95.00 to $115.00 in a research note on Friday, July 25th. Finally, Barclays restated an “overweight” rating and set a $108.00 price objective (down previously from $109.00) on shares of Nasdaq in a research note on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and an average target price of $97.50.

Nasdaq Price Performance

Shares of NDAQ opened at $88.59 on Friday. The firm has a market cap of $50.83 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 1.98 and a beta of 0.98. The stock has a 50 day moving average of $91.92 and a 200-day moving average of $86.39. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. As a group, analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is 41.54%.

Nasdaq 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.