200,810 Shares in Nasdaq, Inc. $NDAQ Purchased by Pinebridge Investments LLC

Pinebridge Investments LLC acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 200,810 shares of the financial services provider’s stock, valued at approximately $19,505,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of Nasdaq by 1.6% during the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock worth $277,329,000 after purchasing an additional 45,783 shares during the last quarter. M&T Bank Corp increased its position in shares of Nasdaq by 27.5% during the 4th quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider’s stock worth $5,933,000 after purchasing an additional 13,160 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of Nasdaq during the 4th quarter worth about $4,872,000. AlphaCore Capital LLC acquired a new stake in shares of Nasdaq during the 4th quarter worth about $1,245,000. Finally, Intech Investment Management LLC increased its position in shares of Nasdaq by 129.2% during the 3rd quarter. Intech Investment Management LLC now owns 55,134 shares of the financial services provider’s stock worth $4,877,000 after purchasing an additional 31,081 shares during the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $87.28 on Friday. The business has a 50-day moving average of $88.52 and a 200 day moving average of $90.06. Nasdaq, Inc. has a 12 month low of $77.09 and a 12 month high of $101.79. The stock has a market capitalization of $49.36 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, June 12th. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s dividend payout ratio (DPR) is 32.53%.

Analyst Ratings Changes

A number of analysts recently issued reports on NDAQ shares. Loop Capital set a $113.00 price objective on Nasdaq in a research report on Friday, April 24th. TD Cowen upgraded Nasdaq from a “hold” rating to a “buy” rating and raised their target price for the company from $105.00 to $106.00 in a report on Thursday, February 26th. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Keefe, Bruyette & Woods raised their target price on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $107.15.

Insider Buying and Selling

In other news, EVP Bradley J. Peterson sold 7,710 shares of Nasdaq stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the completion of the transaction, the executive vice president owned 141,035 shares in the company, valued at approximately $12,808,798.70. This trade represents a 5.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michelle Lynn Daly sold 1,323 shares of Nasdaq stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the transaction, the senior vice president owned 10,089 shares of the company’s stock, valued at $896,104.98. The trade was a 11.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 138,162 shares of company stock worth $11,932,913. 0.60% of the stock is owned by corporate insiders.

About Nasdaq

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.