Mirae Asset Global Investments Co. Ltd. raised its holdings in Nasdaq, Inc. (NASDAQ:NDAQ – Get Rating) by 127.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,263 shares of the financial services provider’s stock after acquiring an additional 55,670 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Nasdaq were worth $6,090,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cresset Asset Management LLC grew its position in Nasdaq by 4.5% in the first quarter. Cresset Asset Management LLC now owns 1,717 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 74 shares during the last quarter. Horizon Investments LLC grew its position in Nasdaq by 8.3% in the first quarter. Horizon Investments LLC now owns 1,120 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 86 shares during the last quarter. Brinker Capital Investments LLC grew its holdings in shares of Nasdaq by 0.4% during the first quarter. Brinker Capital Investments LLC now owns 29,446 shares of the financial services provider’s stock worth $5,247,000 after purchasing an additional 106 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Nasdaq by 1.7% during the first quarter. Advisors Asset Management Inc. now owns 7,142 shares of the financial services provider’s stock worth $1,273,000 after purchasing an additional 120 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Nasdaq by 10.6% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,360 shares of the financial services provider’s stock worth $207,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 73.01% of the company’s stock.
Insider Buying and Selling
In related news, EVP Bryan Everard Smith sold 6,000 shares of the stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $57.06, for a total value of $342,360.00. Following the transaction, the executive vice president now directly owns 56,083 shares in the company, valued at approximately $3,200,095.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.68% of the stock is owned by company insiders.
Nasdaq Price Performance
Nasdaq (NASDAQ:NDAQ – Get Rating) last posted its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Nasdaq had a return on equity of 22.15% and a net margin of 18.38%. The firm had revenue of $914.00 million for the quarter, compared to analysts’ expectations of $910.06 million. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Nasdaq, Inc. will post 2.71 earnings per share for the current year.
Nasdaq Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a $0.22 dividend. This is a boost from Nasdaq’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, June 15th. Nasdaq’s dividend payout ratio (DPR) is currently 34.83%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Nasdaq from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 26th. Morgan Stanley cut Nasdaq from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $70.00 to $60.00 in a report on Tuesday, April 11th. Keefe, Bruyette & Woods reduced their price target on Nasdaq from $73.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, January 26th. Credit Suisse Group reduced their target price on Nasdaq from $59.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, January 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $82.00 target price on shares of Nasdaq in a report on Thursday, April 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.67.
Nasdaq, Inc is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information, and public and private company services. It operates through the following segments: Market Technology, Investment Intelligence, Corporate Platforms, and Market Services.
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