Principal Financial Group Inc. decreased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,998,528 shares of the financial services provider's stock after selling 24,018 shares during the quarter. Principal Financial Group Inc. owned about 0.35% of Nasdaq worth $145,913,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc. RI increased its position in shares of Nasdaq by 3.6% in the third quarter. Citizens Financial Group Inc. RI now owns 3,975 shares of the financial services provider's stock valued at $290,000 after buying an additional 137 shares in the last quarter. First Pacific Financial increased its position in shares of Nasdaq by 1.0% in the third quarter. First Pacific Financial now owns 13,842 shares of the financial services provider's stock valued at $1,011,000 after buying an additional 142 shares in the last quarter. Crestwood Advisors Group LLC increased its position in shares of Nasdaq by 4.2% in the third quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider's stock valued at $268,000 after buying an additional 149 shares in the last quarter. Kentucky Retirement Systems increased its position in shares of Nasdaq by 0.5% in the third quarter. Kentucky Retirement Systems now owns 28,828 shares of the financial services provider's stock valued at $2,105,000 after buying an additional 154 shares in the last quarter. Finally, Signaturefd LLC increased its position in Nasdaq by 2.5% during the 3rd quarter. Signaturefd LLC now owns 6,584 shares of the financial services provider's stock worth $481,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.
Insiders Place Their Bets
In other Nasdaq news, EVP Jeremy Skule sold 12,075 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $78.75, for a total value of $950,906.25. Following the transaction, the executive vice president now directly owns 102,505 shares of the company's stock, valued at $8,072,268.75. This represents a 10.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 6,000 shares of the company's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.71, for a total value of $454,260.00. Following the completion of the transaction, the insider now directly owns 215,563 shares in the company, valued at approximately $16,320,274.73. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,459 shares of company stock worth $3,811,808 in the last 90 days. 0.70% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $88.00 price objective on shares of Nasdaq in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $86.00 to $91.00 and gave the stock an "outperform" rating in a research report on Friday. Raymond James upgraded Nasdaq from a "market perform" rating to an "outperform" rating and set a $82.00 price objective for the company in a research report on Monday, October 14th. Bank of America dropped their price objective on Nasdaq from $90.00 to $88.00 and set a "buy" rating for the company in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded Nasdaq from a "sell" rating to a "hold" rating in a research report on Saturday, December 14th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $82.40.
Check Out Our Latest Research Report on NDAQ
Nasdaq Trading Up 0.4 %
Shares of NASDAQ NDAQ traded up $0.32 during midday trading on Friday, hitting $77.70. The stock had a trading volume of 7,114,296 shares, compared to its average volume of 2,865,127. The company has a market capitalization of $44.66 billion, a price-to-earnings ratio of 46.53, a PEG ratio of 3.12 and a beta of 0.97. Nasdaq, Inc. has a 1-year low of $54.90 and a 1-year high of $83.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average price of $78.14 and a 200 day moving average price of $70.65.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The company's revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS. On average, analysts predict that Nasdaq, Inc. will post 2.79 earnings per share for the current year.
Nasdaq Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, December 6th. Nasdaq's dividend payout ratio is presently 57.49%.
About Nasdaq
(
Free Report)
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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