Legal & General Group Plc Cuts Position in Nasdaq, Inc. $NDAQ

Legal & General Group Plc trimmed its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,723,691 shares of the financial services provider’s stock after selling 24,786 shares during the period. Legal & General Group Plc owned 0.47% of Nasdaq worth $243,552,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC lifted its position in shares of Nasdaq by 57.4% during the first quarter. Kestra Private Wealth Services LLC now owns 7,333 shares of the financial services provider’s stock valued at $556,000 after buying an additional 2,673 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Nasdaq by 14.6% during the 1st quarter. Wedbush Securities Inc. now owns 4,199 shares of the financial services provider’s stock worth $319,000 after acquiring an additional 534 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in Nasdaq by 5.1% during the first quarter. Avantax Advisory Services Inc. now owns 115,145 shares of the financial services provider’s stock valued at $8,735,000 after acquiring an additional 5,599 shares during the last quarter. Cetera Investment Advisers boosted its stake in Nasdaq by 32.2% in the first quarter. Cetera Investment Advisers now owns 35,991 shares of the financial services provider’s stock valued at $2,730,000 after acquiring an additional 8,770 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Nasdaq by 11.6% in the first quarter. Assetmark Inc. now owns 105,831 shares of the financial services provider’s stock valued at $8,028,000 after acquiring an additional 10,984 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a report on Thursday, October 9th. TD Cowen upped their target price on Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Raymond James Financial reissued an “outperform” rating and issued a $100.00 price target (up previously from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a research note on Tuesday, October 14th. Finally, Cowen reaffirmed a “hold” rating on shares of Nasdaq in a research report on Wednesday, October 22nd. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

Insider Activity

In related news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $85.40, for a total transaction of $179,767.00. Following the completion of the transaction, the executive vice president directly owned 84,974 shares in the company, valued at $7,256,779.60. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Nasdaq Trading Up 0.8%

Shares of NASDAQ:NDAQ opened at $87.66 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63. The stock has a market cap of $50.05 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.79 and a beta of 0.98. The business has a 50-day moving average price of $88.14 and a 200-day moving average price of $88.98.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Nasdaq’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.27 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq’s dividend payout ratio is presently 38.57%.

Nasdaq 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.