Janney Montgomery Scott LLC cut its holdings in Nasdaq Inc (NASDAQ:NDAQ) by 36.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,458 shares of the financial services provider’s stock after selling 1,958 shares during the period. Janney Montgomery Scott LLC’s holdings in Nasdaq were worth $344,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its stake in shares of Nasdaq by 68.1% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 8,132 shares of the financial services provider’s stock valued at $810,000 after acquiring an additional 3,295 shares in the last quarter. KCS Wealth Advisory bought a new stake in Nasdaq during the third quarter worth about $94,000. Washington Capital Management Inc. bought a new stake in Nasdaq during the third quarter worth about $358,000. Great West Life Assurance Co. Can lifted its position in Nasdaq by 4.5% during the third quarter. Great West Life Assurance Co. Can now owns 86,071 shares of the financial services provider’s stock worth $8,552,000 after purchasing an additional 3,708 shares during the period. Finally, Farmers Trust Co. lifted its position in Nasdaq by 39.7% during the third quarter. Farmers Trust Co. now owns 27,143 shares of the financial services provider’s stock worth $2,697,000 after purchasing an additional 7,710 shares during the period. Institutional investors and hedge funds own 76.16% of the company’s stock.
Several equities research analysts recently weighed in on NDAQ shares. ValuEngine cut shares of Nasdaq from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group cut shares of Nasdaq from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $113.00 to $107.00 in a research report on Friday, October 25th. Oppenheimer started coverage on shares of Nasdaq in a research report on Monday, September 16th. They set an “outperform” rating and a $111.00 price objective for the company. Deutsche Bank upped their price objective on shares of Nasdaq from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, BidaskClub cut shares of Nasdaq from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $102.70.
Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.06. The firm had revenue of $632.00 million during the quarter, compared to analysts’ expectations of $627.44 million. Nasdaq had a net margin of 12.16% and a return on equity of 15.22%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 earnings per share. Sell-side analysts anticipate that Nasdaq Inc will post 4.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.81%. Nasdaq’s dividend payout ratio (DPR) is currently 38.84%.
In other news, insider Lars Ottersgard sold 4,861 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $99.14, for a total value of $481,919.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Pc Nelson Griggs sold 1,444 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $101.09, for a total transaction of $145,973.96. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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