Fifth Third Bancorp Sells 12,835 Shares of Nasdaq, Inc. $NDAQ

Fifth Third Bancorp trimmed its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 6.8% during the third quarter, Holdings Channel reports. The firm owned 177,061 shares of the financial services provider’s stock after selling 12,835 shares during the quarter. Fifth Third Bancorp’s holdings in Nasdaq were worth $16,291,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Nasdaq during the second quarter valued at about $2,931,637,000. Bank of America Corp DE purchased a new position in Nasdaq during the second quarter valued at approximately $603,631,000. The Manufacturers Life Insurance Company bought a new stake in shares of Nasdaq in the 2nd quarter valued at approximately $377,818,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Nasdaq by 4.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,884,101 shares of the financial services provider’s stock worth $306,145,000 after buying an additional 177,114 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Nasdaq by 19.6% during the 1st quarter. Amundi now owns 2,910,390 shares of the financial services provider’s stock worth $247,063,000 after buying an additional 476,913 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Trading Down 0.2%

NASDAQ:NDAQ opened at $108.47 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $97.71 and a two-hundred day simple moving average of $91.15. The stock has a market capitalization of $60.20 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 1.88 and a beta of 0.95. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month high of $111.45.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $1.47 billion. Nasdaq had a net margin of 22.81% and a return on equity of 19.03%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. Analysts expect that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, December 4th. Nasdaq’s dividend payout ratio is currently 33.88%.

Insider Buying and Selling at Nasdaq

In other news, insider Tal Cohen sold 10,390 shares of the stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $103.34, for a total value of $1,073,702.60. Following the sale, the insider directly owned 205,076 shares of the company’s stock, valued at approximately $21,192,553.84. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 1,125 shares of Nasdaq stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $95.00, for a total value of $106,875.00. Following the sale, the executive vice president directly owned 96,561 shares of the company’s stock, valued at $9,173,295. This represents a 1.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,452 shares of company stock valued at $3,366,669. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on NDAQ shares. Barclays set a $121.00 target price on shares of Nasdaq and gave the company an “overweight” rating in a research report on Friday, October 23rd. Argus increased their price target on Nasdaq from $103.00 to $111.00 in a report on Wednesday, August 5th. Piper Sandler restated an “overweight” rating and issued a $108.00 price objective (up from $104.00) on shares of Nasdaq in a report on Friday, October 2nd. Deutsche Bank reaffirmed a “buy” rating and set a $118.00 price target on shares of Nasdaq in a report on Friday, October 23rd. Finally, Raymond James Financial decreased their target price on shares of Nasdaq from $119.00 to $109.00 in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $113.53.

Nasdaq Company Profile

Nasdaq, Inc. is a global technology and financial markets company best known for operating the Nasdaq Stock Market. Its exchange services support the listing and trading of equities and other financial products, and the company provides market data and trading technology to exchanges, brokers, investors, and other financial institutions. Nasdaq also develops software and services for financial institutions and corporations, including solutions for regulatory compliance, market surveillance, and the detection and prevention of financial crime.