PNC Financial Services Group Inc. Buys 13,288 Shares of Nasdaq, Inc. $NDAQ

PNC Financial Services Group Inc. grew its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 239,319 shares of the financial services provider’s stock after acquiring an additional 13,288 shares during the period. PNC Financial Services Group Inc.’s holdings in Nasdaq were worth $23,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Nasdaq by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock worth $5,819,727,000 after acquiring an additional 268,481 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nasdaq by 4.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock worth $2,683,485,000 after acquiring an additional 1,258,964 shares during the last quarter. State Street Corp raised its stake in shares of Nasdaq by 7.7% during the third quarter. State Street Corp now owns 19,619,192 shares of the financial services provider’s stock worth $1,735,318,000 after buying an additional 1,404,348 shares during the last quarter. Invesco Ltd. raised its stake in shares of Nasdaq by 11.8% during the third quarter. Invesco Ltd. now owns 5,044,521 shares of the financial services provider’s stock worth $446,188,000 after buying an additional 532,775 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Nasdaq by 2.9% during the third quarter. Northern Trust Corp now owns 4,198,608 shares of the financial services provider’s stock worth $371,367,000 after buying an additional 116,542 shares during the last quarter. 72.47% of the stock is owned by institutional investors.

Insider Activity

In other Nasdaq news, insider Cohen Tal sold 15,518 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $90.75, for a total value of $1,408,258.50. Following the completion of the sale, the insider owned 215,208 shares of the company’s stock, valued at approximately $19,530,126. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bradley J. Peterson sold 7,710 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the sale, the executive vice president directly owned 141,035 shares of the company’s stock, valued at $12,808,798.70. The trade was a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 231,002 shares of company stock worth $20,295,941 over the last three months. Company insiders own 0.60% of the company’s stock.

Nasdaq Trading Up 0.7%

NDAQ opened at $91.01 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $51.47 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 1.84 and a beta of 0.98. The firm has a 50 day simple moving average of $87.62 and a 200 day simple moving average of $89.86. Nasdaq, Inc. has a fifty-two week low of $77.09 and a fifty-two week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts anticipate that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 12th. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a yield of 1.4%. Nasdaq’s payout ratio is currently 37.35%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $108.00 price target on shares of Nasdaq in a research note on Friday, January 30th. Barclays boosted their price target on shares of Nasdaq from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. TD Cowen raised shares of Nasdaq from a “hold” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $106.00 in a research note on Thursday, February 26th. Keefe, Bruyette & Woods boosted their price target on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Argus raised shares of Nasdaq to a “strong-buy” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.15.

Nasdaq Profile

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.