The Manufacturers Life Insurance Company Decreases Position in Nasdaq, Inc. (NASDAQ:NDAQ)

The Manufacturers Life Insurance Company trimmed its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,618,769 shares of the financial services provider’s stock after selling 183,306 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Nasdaq were worth $483,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Y.D. More Investments Ltd boosted its holdings in Nasdaq by 94.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares during the period. Hobbs Group Advisors LLC purchased a new position in Nasdaq during the 2nd quarter valued at about $26,000. Catalyst Capital Advisors LLC bought a new stake in shares of Nasdaq during the third quarter valued at about $27,000. Crewe Advisors LLC boosted its position in shares of Nasdaq by 164.4% in the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 314 shares during the period. Finally, LRI Investments LLC purchased a new position in Nasdaq during the first quarter valued at approximately $31,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the sale, the executive vice president now directly owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. This trade represents a 8.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeremy Skule sold 12,075 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $78.75, for a total transaction of $950,906.25. Following the transaction, the executive vice president now owns 102,505 shares in the company, valued at $8,072,268.75. This represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,459 shares of company stock valued at $3,811,808 over the last ninety days. 0.70% of the stock is owned by insiders.

Nasdaq Trading Up 0.6 %

NASDAQ NDAQ opened at $81.52 on Tuesday. The stock has a 50-day moving average of $75.27 and a 200-day moving average of $68.30. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. Nasdaq, Inc. has a 1-year low of $53.62 and a 1-year high of $82.39. The firm has a market cap of $46.85 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 3.16 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 2.79 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.18%. Nasdaq’s dividend payout ratio is currently 57.49%.

Analysts Set New Price Targets

Several brokerages have commented on NDAQ. Deutsche Bank Aktiengesellschaft raised their price target on shares of Nasdaq from $78.00 to $80.00 and gave the company a “hold” rating in a report on Monday, November 11th. Bank of America dropped their price objective on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Argus upped their target price on Nasdaq from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com downgraded Nasdaq from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler upped their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nasdaq presently has an average rating of “Moderate Buy” and a consensus target price of $80.87.

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.