Cerity Partners LLC Cuts Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Cerity Partners LLC lessened its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 113,866 shares of the financial services provider's stock after selling 3,992 shares during the period. Cerity Partners LLC's holdings in Nasdaq were worth $8,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NDAQ. Allworth Financial LP grew its position in shares of Nasdaq by 12.3% during the 4th quarter. Allworth Financial LP now owns 1,292 shares of the financial services provider's stock worth $104,000 after buying an additional 141 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Nasdaq by 1.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider's stock valued at $759,000 after buying an additional 148 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Nasdaq by 8.5% in the fourth quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider's stock valued at $147,000 after acquiring an additional 148 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in Nasdaq by 4.1% during the fourth quarter. Crestwood Advisors Group LLC now owns 3,822 shares of the financial services provider's stock valued at $295,000 after purchasing an additional 152 shares during the last quarter. Finally, Crestmont Private Wealth LLC increased its holdings in Nasdaq by 2.4% during the fourth quarter. Crestmont Private Wealth LLC now owns 8,017 shares of the financial services provider's stock worth $620,000 after buying an additional 185 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.

Remove Ads

Nasdaq Trading Up 0.5 %

NASDAQ NDAQ traded up $0.39 during mid-day trading on Tuesday, reaching $73.17. 1,607,243 shares of the stock were exchanged, compared to its average volume of 2,831,623. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.99 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $76.60 and a 200-day simple moving average of $77.46. Nasdaq, Inc. has a one year low of $58.10 and a one year high of $84.15. The stock has a market cap of $42.08 billion, a P/E ratio of 38.11, a P/E/G ratio of 2.12 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. On average, analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, March 14th. Nasdaq's dividend payout ratio is 50.00%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NDAQ shares. Deutsche Bank Aktiengesellschaft raised Nasdaq from a "hold" rating to a "buy" rating and raised their price objective for the company from $80.00 to $98.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on Nasdaq from $88.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Morgan Stanley downgraded shares of Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 price objective for the company. in a report on Tuesday, April 8th. Barclays cut their price target on Nasdaq from $87.00 to $86.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Citigroup reduced their target price on Nasdaq from $84.00 to $75.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.56.

Insider Activity at Nasdaq

In related news, EVP Bryan Everard Smith sold 657 shares of Nasdaq stock in a transaction on Friday, April 4th. The stock was sold at an average price of $71.81, for a total transaction of $47,179.17. Following the sale, the executive vice president now directly owns 61,980 shares in the company, valued at approximately $4,450,783.80. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sarah Youngwood sold 14,959 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $73.68, for a total value of $1,102,179.12. Following the sale, the executive vice president now directly owns 59,694 shares of the company's stock, valued at approximately $4,398,253.92. This represents a 20.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,116 shares of company stock valued at $1,434,818 over the last ninety days. Corporate insiders own 0.70% of the company's stock.

Nasdaq Company 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.