Resona Asset Management Co. Ltd. Increases Stake in Nasdaq, Inc. $NDAQ

Resona Asset Management Co. Ltd. raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 147,692 shares of the financial services provider’s stock after purchasing an additional 8,860 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Nasdaq were worth $13,199,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Leavell Investment Management Inc. lifted its holdings in shares of Nasdaq by 0.4% during the 2nd quarter. Leavell Investment Management Inc. now owns 26,156 shares of the financial services provider’s stock valued at $2,339,000 after acquiring an additional 116 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in Nasdaq by 72.7% in the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 120 shares during the period. Fielder Capital Group LLC raised its position in Nasdaq by 3.0% in the second quarter. Fielder Capital Group LLC now owns 4,253 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 122 shares during the period. Freedom Investment Management Inc. boosted its position in shares of Nasdaq by 2.3% in the second quarter. Freedom Investment Management Inc. now owns 5,684 shares of the financial services provider’s stock worth $508,000 after buying an additional 128 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Nasdaq by 2.5% in the second quarter. Private Trust Co. NA now owns 5,656 shares of the financial services provider’s stock valued at $506,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Performance

Nasdaq stock opened at $87.24 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a fifty day moving average price of $89.61 and a two-hundred day moving average price of $88.10. The company has a market cap of $49.81 billion, a PE ratio of 31.16, a P/E/G ratio of 1.79 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was up 14.7% compared to the same quarter last year. Research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is currently 38.57%.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. Cowen reaffirmed a “hold” rating on shares of Nasdaq in a report on Wednesday, October 22nd. TD Cowen lifted their price target on shares of Nasdaq from $94.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a research note on Tuesday, October 14th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.67.

Insider Buying and Selling

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total value of $179,767.00. Following the completion of the transaction, the executive vice president directly owned 84,974 shares in the company, valued at $7,256,779.60. The trade was a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by insiders.

Nasdaq Company 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.