Manning & Napier Advisors LLC Has $57.69 Million Stake in Nasdaq, Inc. $NDAQ

Manning & Napier Advisors LLC lowered its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 679,564 shares of the financial services provider’s stock after selling 101,413 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Nasdaq were worth $57,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MV Capital Management Inc. bought a new stake in shares of Nasdaq during the 4th quarter worth approximately $28,000. SOA Wealth Advisors LLC. acquired a new position in Nasdaq during the fourth quarter worth $34,000. Nemes Rush Group LLC bought a new stake in Nasdaq during the fourth quarter worth $35,000. Uniplan Investment Counsel Inc. acquired a new stake in Nasdaq in the fourth quarter valued at $35,000. Finally, Fideuram Asset Management Ireland dac bought a new position in shares of Nasdaq in the 4th quarter valued at about $37,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NDAQ has been the subject of several recent analyst reports. Loop Capital set a $113.00 target price on shares of Nasdaq in a research note on Friday, April 24th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research note on Thursday, June 11th. Barclays cut their price objective on Nasdaq from $114.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $106.92.

Insider Transactions at Nasdaq

In related news, insider Cohen Tal sold 15,518 shares of Nasdaq stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the completion of the sale, the insider directly owned 215,208 shares of the company’s stock, valued at approximately $19,530,126. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ab Investor purchased 56,782 shares of Nasdaq stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the purchase, the insider directly owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 24,551 shares of company stock worth $2,225,990 in the last ninety days. 0.60% of the stock is currently owned by company insiders.

Nasdaq Stock Performance

Shares of NDAQ stock traded up $0.56 during midday trading on Friday, hitting $88.08. 2,620,120 shares of the company were exchanged, compared to its average volume of 4,808,497. The firm has a market capitalization of $49.81 billion, a P/E ratio of 26.53, a PEG ratio of 1.74 and a beta of 0.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average price is $87.20 and its two-hundred day moving average price is $89.01. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. Nasdaq’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 EPS. As a group, equities research analysts anticipate that Nasdaq, Inc. will post 3.89 earnings per share for the current year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, June 12th. Nasdaq’s dividend payout ratio is 37.35%.

About Nasdaq

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.