First Horizon Corp Takes Position in Nasdaq, Inc. $NDAQ

First Horizon Corp purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 21,734 shares of the financial services provider’s stock, valued at approximately $1,922,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Empowered Funds LLC lifted its stake in Nasdaq by 3.8% during the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 538 shares in the last quarter. Woodline Partners LP lifted its stake in Nasdaq by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock worth $2,652,000 after acquiring an additional 10,110 shares in the last quarter. Focus Partners Wealth boosted its holdings in Nasdaq by 22.0% during the 1st quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock valued at $1,089,000 after acquiring an additional 2,584 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Nasdaq by 345.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 463 shares during the period. Finally, Voya Investment Management LLC grew its position in Nasdaq by 0.8% in the 1st quarter. Voya Investment Management LLC now owns 222,608 shares of the financial services provider’s stock valued at $16,887,000 after acquiring an additional 1,753 shares in the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group restated a “buy” rating and issued a $120.00 price target (up previously from $115.00) on shares of Nasdaq in a research note on Monday. TD Cowen boosted their target price on Nasdaq from $94.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Cowen restated a “hold” rating on shares of Nasdaq in a report on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price target on Nasdaq from $111.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Nasdaq in a research report on Friday. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.00.

Nasdaq Stock Performance

NASDAQ NDAQ opened at $99.42 on Tuesday. The firm has a market cap of $56.77 billion, a P/E ratio of 35.51, a P/E/G ratio of 1.58 and a beta of 1.01. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $101.21. The business’s 50-day moving average price is $92.35 and its 200 day moving average price is $91.73. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Nasdaq’s dividend payout ratio is presently 38.57%.

Insider Buying and Selling at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total value of $179,767.00. Following the sale, the executive vice president directly owned 84,974 shares in the company, valued at $7,256,779.60. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adena T. Friedman sold 300,000 shares of Nasdaq stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $96.39, for a total transaction of $28,917,000.00. Following the sale, the chief executive officer owned 1,924,903 shares of the company’s stock, valued at approximately $185,541,400.17. This trade represents a 13.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 306,605 shares of company stock worth $29,546,812. 0.70% of the stock is owned by 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.