Ameriprise Financial Inc. Raises Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Ameriprise Financial Inc. raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,700,752 shares of the financial services provider’s stock after buying an additional 268,107 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.75% of Nasdaq worth $201,010,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NDAQ. RB Capital Management LLC grew its holdings in Nasdaq by 15.9% in the 1st quarter. RB Capital Management LLC now owns 3,264 shares of the financial services provider’s stock valued at $582,000 after buying an additional 448 shares in the last quarter. American Century Companies Inc. grew its holdings in Nasdaq by 10.2% in the 1st quarter. American Century Companies Inc. now owns 2,209 shares of the financial services provider’s stock valued at $394,000 after buying an additional 205 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Nasdaq by 14.1% in the 1st quarter. Raymond James Trust N.A. now owns 3,932 shares of the financial services provider’s stock valued at $701,000 after buying an additional 487 shares in the last quarter. Sei Investments Co. grew its holdings in Nasdaq by 8.4% in the 1st quarter. Sei Investments Co. now owns 136,395 shares of the financial services provider’s stock valued at $24,319,000 after buying an additional 10,623 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Nasdaq by 32.0% in the 1st quarter. Allianz Asset Management GmbH now owns 316,344 shares of the financial services provider’s stock valued at $56,373,000 after buying an additional 76,603 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NDAQ has been the subject of a number of research analyst reports. StockNews.com upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Monday, September 11th. UBS Group lowered their price target on Nasdaq from $62.00 to $56.00 in a report on Tuesday, June 13th. Rosenblatt Securities reiterated a “buy” rating and set a $82.00 price target on shares of Nasdaq in a report on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and set a $55.00 price target on shares of Nasdaq in a report on Tuesday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Nasdaq from $56.00 to $53.00 in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.67.

Insider Buying and Selling at Nasdaq

In other news, Director Michael R. Splinter sold 1,164 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $51.03, for a total transaction of $59,398.92. Following the sale, the director now owns 2,910 shares of the company’s stock, valued at approximately $148,497.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Michael R. Splinter sold 1,164 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $51.03, for a total transaction of $59,398.92. Following the sale, the director now owns 2,910 shares of the company’s stock, valued at approximately $148,497.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adena T. Friedman bought 10,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were acquired at an average cost of $51.00 per share, for a total transaction of $510,000.00. Following the transaction, the chief executive officer now directly owns 1,672,318 shares in the company, valued at approximately $85,288,218. The disclosure for this purchase can be found here. 0.75% of the stock is owned by corporate insiders.

Nasdaq Price Performance

NDAQ stock opened at $50.77 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $24.94 billion, a P/E ratio of 22.87, a P/E/G ratio of 5.27 and a beta of 0.91. The business’s 50-day moving average is $51.08 and its two-hundred day moving average is $52.87. Nasdaq, Inc. has a 1 year low of $48.65 and a 1 year high of $69.22.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $925.00 million for the quarter, compared to analyst estimates of $914.85 million. Nasdaq had a return on equity of 21.92% and a net margin of 18.08%. Nasdaq’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. Analysts anticipate that Nasdaq, Inc. will post 2.74 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, September 14th. Nasdaq’s dividend payout ratio is currently 39.64%.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. The Market Platforms segment trading services, including equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.