PNC Financial Services Group Inc. grew its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,912 shares of the financial services provider’s stock after buying an additional 266 shares during the period. PNC Financial Services Group Inc.’s holdings in Nasdaq were worth $566,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of NDAQ. UBS Asset Management Americas Inc. raised its holdings in Nasdaq by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 300,242 shares of the financial services provider’s stock worth $20,852,000 after buying an additional 27,248 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Nasdaq during the first quarter valued at approximately $190,000. Pacer Advisors Inc. raised its holdings in shares of Nasdaq by 3.4% during the first quarter. Pacer Advisors Inc. now owns 2,365 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 77 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Nasdaq by 3.8% during the first quarter. Teachers Advisors LLC now owns 179,497 shares of the financial services provider’s stock valued at $12,466,000 after purchasing an additional 6,548 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Nasdaq by 6.5% during the first quarter. Thrivent Financial For Lutherans now owns 4,230 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 260 shares during the last quarter. 74.63% of the stock is owned by institutional investors and hedge funds.
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NDAQ has been the subject of several research reports. BidaskClub raised shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Keefe, Bruyette & Woods set a $76.00 price objective on shares of Nasdaq and gave the company a “hold” rating in a report on Thursday, August 17th. Royal Bank Of Canada reissued a “hold” rating and set a $76.00 price objective on shares of Nasdaq in a report on Monday, September 11th. 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 objective for the company. Finally, Barclays PLC initiated coverage on shares of Nasdaq in a report on Friday, September 8th. They set an “overweight” rating and a $85.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $76.30.
Nasdaq, Inc. (NASDAQ:NDAQ) opened at 74.34 on Friday. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 56.49 and a beta of 0.77. The company’s 50 day moving average is $75.64 and its 200-day moving average is $71.99. Nasdaq, Inc. has a 12 month low of $63.30 and a 12 month high of $78.31.
Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.96 by $0.06. Nasdaq had a return on equity of 12.19% and a net margin of 5.76%. The business had revenue of $602.00 million for the quarter, compared to analyst estimates of $596.55 million. During the same quarter in the previous year, the firm earned $0.91 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts expect that Nasdaq, Inc. will post $4.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.04%. Nasdaq’s dividend payout ratio is presently 118.75%.
In related news, insider Edward S. Knight sold 15,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 78,063 shares in the company, valued at approximately $5,807,106.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ann M. Dennison sold 1,170 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $76.32, for a total transaction of $89,294.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,844 shares of company stock worth $2,788,100. Insiders own 1.60% of the company’s stock.
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.
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