FUKOKU MUTUAL LIFE INSURANCE Co Makes New Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,920 shares of the financial services provider's stock, valued at approximately $222,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust increased its holdings in Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 216 shares during the last quarter. Highline Wealth Partners LLC increased its holdings in Nasdaq by 1,509.5% in the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 317 shares during the last quarter. Rakuten Securities Inc. bought a new stake in Nasdaq in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new stake in Nasdaq in the first quarter valued at about $26,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Nasdaq in the fourth quarter valued at about $37,000. Institutional investors own 72.47% of the company's stock.

Nasdaq Stock Performance

Nasdaq stock traded down $1.23 during trading on Tuesday, hitting $88.43. The stock had a trading volume of 2,600,724 shares, compared to its average volume of 3,077,205. Nasdaq, Inc. has a 1 year low of $62.21 and a 1 year high of $90.84. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock's 50 day moving average is $84.84 and its two-hundred day moving average is $79.75. The stock has a market cap of $50.77 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth ratio of 2.20 and a beta of 1.01.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The business's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, June 13th. This is a boost from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's dividend payout ratio is currently 49.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. UBS Group increased their price target on Nasdaq from $82.00 to $95.00 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Royal Bank Of Canada restated an "outperform" rating and issued a $95.00 price target on shares of Nasdaq in a report on Thursday, April 10th. Citigroup restated a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Raymond James Financial restated an "outperform" rating and issued a $96.00 price target (up from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Finally, Morgan Stanley increased their price target on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Nasdaq currently has an average rating of "Moderate Buy" and a consensus price target of $92.63.

Insider Activity at Nasdaq

In other news, insider Pc Nelson Griggs sold 8,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the transaction, the insider directly owned 211,405 shares of the company's stock, valued at approximately $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the transaction, the executive vice president directly owned 111,035 shares in the company, valued at $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,613 shares of company stock valued at $1,874,659 over the last 90 days. 0.70% of the stock is owned by insiders.

Nasdaq Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.