PNC Financial Services Group Inc. decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,646 shares of the financial services provider’s stock after selling 235 shares during the period. PNC Financial Services Group Inc.’s holdings in Nasdaq were worth $531,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in NDAQ. Private Trust Co. NA raised its stake in shares of Nasdaq by 4.0% in the first quarter. Private Trust Co. NA now owns 8,533 shares of the financial services provider’s stock worth $592,000 after buying an additional 325 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of Nasdaq by 1.5% in the first quarter. Capstone Asset Management Co. now owns 11,230 shares of the financial services provider’s stock worth $780,000 after buying an additional 170 shares during the last quarter. CrestPoint Capital Management LLC purchased a new stake in shares of Nasdaq during the first quarter worth approximately $924,000. Gulf International Bank UK Ltd raised its stake in shares of Nasdaq by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 35,901 shares of the financial services provider’s stock worth $2,493,000 after buying an additional 500 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Nasdaq by 10.5% in the first quarter. Creative Planning now owns 8,631 shares of the financial services provider’s stock worth $599,000 after buying an additional 818 shares during the last quarter. 75.13% of the stock is currently owned by hedge funds and other institutional investors.
Nasdaq, Inc. (NASDAQ NDAQ) opened at 71.63 on Monday. Nasdaq, Inc. has a 12 month low of $63.30 and a 12 month high of $72.52. The stock’s 50 day moving average price is $69.05 and its 200-day moving average price is $69.14. The company has a market capitalization of $11.83 billion, a P/E ratio of 83.48 and a beta of 0.76.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.05. Nasdaq had a return on equity of 11.77% and a net margin of 3.87%. The business had revenue of $583 million during the quarter, compared to analysts’ expectations of $593.46 million. During the same quarter last year, the business posted $0.91 EPS. The business’s revenue was up 9.2% on a year-over-year basis. On average, equities research analysts predict that Nasdaq, Inc. will post $4.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a $0.38 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $1.52 annualized dividend and a yield of 2.12%. This is a boost from Nasdaq’s previous quarterly dividend of $0.32. Nasdaq’s dividend payout ratio (DPR) is 183.13%.
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A number of analysts have recently commented on the company. BidaskClub raised Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Royal Bank of Canada reissued a “hold” rating and set a $74.00 price target on shares of Nasdaq in a research note on Tuesday, June 13th. Zacks Investment Research lowered Nasdaq from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reissued a “hold” rating and set a $68.00 price target on shares of Nasdaq in a research note on Monday, April 10th. Finally, Evercore ISI reissued an “in-line” rating and set a $74.00 price target on shares of Nasdaq in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Nasdaq currently has a consensus rating of “Hold” and a consensus price target of $73.11.
In other Nasdaq news, Director Lars Wedenborn sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $68.38, for a total value of $683,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.
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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