First Manhattan Co. cut its stake in Nasdaq Inc (NASDAQ:NDAQ) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,322 shares of the financial services provider’s stock after selling 325 shares during the period. First Manhattan Co.’s holdings in Nasdaq were worth $3,965,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Nasdaq by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 965,843 shares of the financial services provider’s stock valued at $82,872,000 after purchasing an additional 5,071 shares during the period. Franklin Resources Inc. acquired a new position in shares of Nasdaq during the third quarter valued at $2,486,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Nasdaq during the third quarter valued at $412,000. Allianz Asset Management GmbH increased its holdings in shares of Nasdaq by 137.4% during the third quarter. Allianz Asset Management GmbH now owns 33,272 shares of the financial services provider’s stock valued at $2,855,000 after purchasing an additional 19,256 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Nasdaq by 360.5% during the third quarter. Jane Street Group LLC now owns 10,563 shares of the financial services provider’s stock valued at $906,000 after purchasing an additional 8,269 shares during the period. 76.14% of the stock is currently owned by hedge funds and other institutional investors.
In other Nasdaq news, insider Bradley J. Peterson sold 6,159 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $85.48, for a total transaction of $526,471.32. Following the completion of the sale, the insider now directly owns 39,482 shares in the company, valued at approximately $3,374,921.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas A. Wittman sold 13,561 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $88.04, for a total value of $1,193,910.44. The disclosure for this sale can be found here. Insiders sold a total of 21,059 shares of company stock valued at $1,841,213 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.02. Nasdaq had a return on equity of 14.53% and a net margin of 10.71%. The business had revenue of $645.00 million during the quarter, compared to analyst estimates of $642.95 million. During the same quarter last year, the company posted $1.05 EPS. Nasdaq’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts expect that Nasdaq Inc will post 4.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.00%. Nasdaq’s dividend payout ratio (DPR) is 36.36%.
A number of research analysts have recently commented on NDAQ shares. BidaskClub lowered Nasdaq from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 27th. Zacks Investment Research lowered Nasdaq from a “hold” rating to a “sell” rating in a report on Friday, January 11th. Argus started coverage on Nasdaq in a report on Wednesday, February 6th. They set a “buy” rating and a $97.00 price target on the stock. Raymond James lowered their price target on Nasdaq from $97.00 to $96.00 and set an “outperform” rating on the stock in a report on Tuesday, March 5th. Finally, ValuEngine lowered Nasdaq from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Nasdaq presently has a consensus rating of “Hold” and a consensus target price of $96.43.
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Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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