Nasdaq, Inc. $NDAQ Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,777 shares of the financial services provider’s stock after selling 1,114 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Nasdaq were worth $11,873,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NDAQ. Phoenix Financial Ltd. acquired a new stake in shares of Nasdaq in the 2nd quarter valued at about $2,426,000. Avidian Wealth Enterprises LLC acquired a new stake in shares of Nasdaq in the 2nd quarter valued at about $224,000. Journey Advisory Group LLC raised its stake in shares of Nasdaq by 11.5% in the 2nd quarter. Journey Advisory Group LLC now owns 11,807 shares of the financial services provider’s stock valued at $1,056,000 after purchasing an additional 1,219 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Nasdaq in the 2nd quarter valued at about $504,000. Finally, International Assets Investment Management LLC raised its stake in shares of Nasdaq by 3.8% in the 2nd quarter. International Assets Investment Management LLC now owns 8,711 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 322 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citigroup restated a “neutral” rating on shares of Nasdaq in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods upped their target price on shares of Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Cowen restated a “hold” rating on shares of Nasdaq in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Nasdaq from $97.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Piper Sandler boosted their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.56.

Insider Activity

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares in the company, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ opened at $87.42 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The firm has a 50-day simple moving average of $91.48 and a 200 day simple moving average of $86.65. The company has a market cap of $50.16 billion, a PE ratio of 31.22, a P/E/G ratio of 2.01 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.46%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. Nasdaq’s quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $0.27 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq’s dividend payout ratio is 41.54%.

About Nasdaq

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.