Nikko Asset Management Americas Inc. Acquires 118,000 Shares of Nasdaq, Inc. (NDAQ)

Nikko Asset Management Americas Inc. raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 1,325.8% during the second quarter, Holdings Channel reports. The institutional investor owned 126,900 shares of the financial services provider’s stock after buying an additional 118,000 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Nasdaq were worth $9,072,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NDAQ. Penobscot Investment Management Company Inc. increased its stake in Nasdaq by 2.8% in the second quarter. Penobscot Investment Management Company Inc. now owns 5,425 shares of the financial services provider’s stock valued at $388,000 after buying an additional 150 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Nasdaq by 10.4% in the second quarter. BNP Paribas Arbitrage SA now owns 312,898 shares of the financial services provider’s stock valued at $22,369,000 after buying an additional 29,587 shares during the last quarter. Comerica Bank raised its position in Nasdaq by 6.5% in the second quarter. Comerica Bank now owns 64,884 shares of the financial services provider’s stock valued at $4,713,000 after buying an additional 3,964 shares during the last quarter. Legal & General Group Plc raised its position in Nasdaq by 2.4% in the second quarter. Legal & General Group Plc now owns 597,473 shares of the financial services provider’s stock valued at $42,714,000 after buying an additional 14,184 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its position in Nasdaq by 20.0% in the second quarter. State of Wisconsin Investment Board now owns 131,786 shares of the financial services provider’s stock valued at $9,421,000 after buying an additional 21,950 shares during the last quarter. Institutional investors and hedge funds own 75.44% of the company’s stock.

Shares of Nasdaq, Inc. (NASDAQ NDAQ) opened at 76.28 on Friday. The company has a market cap of $12.72 billion, a price-to-earnings ratio of 57.96 and a beta of 0.76. Nasdaq, Inc. has a 1-year low of $63.30 and a 1-year high of $77.75. The stock has a 50 day moving average of $73.52 and a 200 day moving average of $70.54.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The firm had revenue of $602 million during the quarter, compared to analyst estimates of $596.55 million. Nasdaq had a return on equity of 12.19% and a net margin of 5.76%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Analysts predict that Nasdaq, Inc. will post $4.17 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.99%. Nasdaq’s dividend payout ratio is presently 118.75%.

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NDAQ has been the subject of several analyst reports. Deutsche Bank AG restated a “buy” rating and set a $77.00 price target (down previously from $79.00) on shares of Nasdaq in a report on Monday, May 15th. BidaskClub lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Citigroup Inc. initiated coverage on shares of Nasdaq in a report on Wednesday, July 12th. They set a “neutral” rating and a $72.00 price target for the company. Royal Bank Of Canada raised their price target on shares of Nasdaq from $70.00 to $74.00 and gave the stock a “sector perform” rating in a report on Thursday, April 27th. Finally, Zacks Investment Research lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $75.22.

In related news, insider Bjorn Sibbern sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $76.17, for a total transaction of $228,510.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward S. Knight sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $74.39, for a total value of $1,115,850.00. Following the transaction, the insider now owns 78,063 shares of the company’s stock, valued at approximately $5,807,106.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,629 shares of company stock valued at $2,466,989. 1.60% of the stock is owned by corporate insiders.

Nasdaq Company Profile

Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.

Want to see what other hedge funds are holding NDAQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nasdaq, Inc. (NASDAQ:NDAQ).

Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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