Russell Investments Group Ltd. cut its stake in shares of Nasdaq Inc (NASDAQ:NDAQ) by 40.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,323 shares of the financial services provider’s stock after selling 41,710 shares during the period. Russell Investments Group Ltd.’s holdings in Nasdaq were worth $4,757,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Nasdaq by 1.8% during the second quarter. Vanguard Group Inc. now owns 11,470,748 shares of the financial services provider’s stock valued at $820,043,000 after buying an additional 208,253 shares during the period. Bessemer Group Inc. increased its position in shares of Nasdaq by 2.9% during the third quarter. Bessemer Group Inc. now owns 2,400,450 shares of the financial services provider’s stock valued at $186,204,000 after buying an additional 67,975 shares during the period. BT Investment Management Ltd bought a new stake in shares of Nasdaq during the second quarter valued at about $97,982,000. Frontier Capital Management Co. LLC increased its position in shares of Nasdaq by 1.3% during the third quarter. Frontier Capital Management Co. LLC now owns 1,249,927 shares of the financial services provider’s stock valued at $96,957,000 after buying an additional 16,264 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in shares of Nasdaq by 21.9% during the second quarter. TimesSquare Capital Management LLC now owns 1,203,500 shares of the financial services provider’s stock valued at $86,038,000 after buying an additional 216,100 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.
Several research analysts have recently commented on NDAQ shares. Keefe, Bruyette & Woods set a $76.00 price objective on Nasdaq and gave the stock a “hold” rating in a report on Thursday, August 17th. Bank of America lowered Nasdaq from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $77.00 to $75.00 in a report on Monday, October 9th. 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. Barclays started coverage on Nasdaq in a report on Friday, September 8th. They set an “overweight” rating and a $85.00 price objective for the company. Finally, Zacks Investment Research lowered Nasdaq from a “hold” rating to a “sell” rating in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $78.67.
Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.04. The business had revenue of $607.00 million during the quarter, compared to analyst estimates of $599.84 million. Nasdaq had a return on equity of 12.69% and a net margin of 6.72%. Nasdaq’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. equities analysts expect that Nasdaq Inc will post 4.18 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, December 14th. Nasdaq’s dividend payout ratio is currently 100.00%.
In other Nasdaq news, insider Pc Nelson Griggs sold 1,396 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $74.72, for a total value of $104,309.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.
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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.
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