Mitsubishi UFJ Asset Management Co. Ltd. Invests $86.66 Million in Nasdaq, Inc. $NDAQ

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,099,466 shares of the financial services provider’s stock, valued at approximately $86,660,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Nasdaq as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. MV Capital Management Inc. bought a new position in Nasdaq in the fourth quarter worth approximately $28,000. Nemes Rush Group LLC bought a new stake in Nasdaq during the 4th quarter valued at $35,000. Uniplan Investment Counsel Inc. bought a new stake in Nasdaq during the 4th quarter valued at $35,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Nasdaq in the 4th quarter valued at $37,000. Finally, Reflection Asset Management purchased a new stake in shares of Nasdaq during the 4th quarter worth $41,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Stock Up 0.0%

Shares of NDAQ stock opened at $96.71 on Wednesday. Nasdaq, Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $54.06 billion, a PE ratio of 28.20, a P/E/G ratio of 1.31 and a beta of 0.96. The stock’s 50-day simple moving average is $89.26 and its 200-day simple moving average is $87.97.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the business posted $0.85 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts expect that Nasdaq, Inc. will post 4.15 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is currently 36.15%.

Insiders Place Their Bets

In related news, major shareholder Ab Investor acquired 56,782 shares of Nasdaq stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the purchase, the insider owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 13,000 shares of Nasdaq stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the transaction, the executive vice president owned 128,293 shares of the company’s stock, valued at $11,881,214.73. The trade was a 9.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 41,797 shares of company stock valued at $3,926,319. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of several analyst reports. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a research note on Thursday, June 11th. Barclays reiterated an “overweight” rating and issued a $111.00 target price (up from $108.00) on shares of Nasdaq in a report on Friday, July 24th. TD Cowen reissued a “buy” rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Morgan Stanley restated an “overweight” rating and issued a $120.00 price target on shares of Nasdaq in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $110.30.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.