Korea Investment CORP Buys New Shares in Nasdaq, Inc. $NDAQ

Korea Investment CORP bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 285,719 shares of the financial services provider’s stock, valued at approximately $22,520,000. Korea Investment CORP owned 0.05% of Nasdaq as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of NDAQ. Vanguard Group Inc. lifted its position in shares of Nasdaq by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock valued at $5,819,727,000 after acquiring an additional 268,481 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Nasdaq during the second quarter worth about $2,931,637,000. State Street Corp raised its stake in Nasdaq by 1.3% during the 4th quarter. State Street Corp now owns 19,878,600 shares of the financial services provider’s stock valued at $1,930,808,000 after purchasing an additional 259,408 shares during the period. Geode Capital Management LLC raised its stake in Nasdaq by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider’s stock valued at $1,243,807,000 after purchasing an additional 378,577 shares during the period. Finally, Morgan Stanley lifted its holdings in Nasdaq by 62.6% in the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock worth $900,061,000 after purchasing an additional 3,567,843 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,000 shares of Nasdaq stock in a transaction on Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the completion of the transaction, the executive vice president directly owned 128,293 shares of the company’s stock, valued at $11,881,214.73. The trade was a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pc Nelson Griggs sold 11,010 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the transaction, the insider owned 205,001 shares in the company, valued at $19,751,846.35. This trade represents a 5.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 41,797 shares of company stock worth $3,926,319. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NDAQ has been the subject of several recent analyst reports. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Raymond James Financial reissued 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. Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a research report on Thursday, June 11th. TD Cowen reaffirmed a “buy” rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. Finally, Barclays reiterated an “overweight” rating and issued a $111.00 price target (up from $108.00) on shares of Nasdaq in a report on Friday, July 24th. Two equities research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $110.30.

Nasdaq Price Performance

Shares of NDAQ opened at $98.22 on Monday. The stock has a market capitalization of $54.90 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 1.30 and a beta of 0.96. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79. The business’s 50 day simple moving average is $89.85 and its 200-day simple moving average is $87.97. 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) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities analysts expect that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq’s payout ratio is 36.15%.

Nasdaq Company 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.