Aigen Investment Management LP Purchases New Shares in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• Aigen Investment Management LP has acquired a new stake in Nasdaq, Inc., purchasing 14,461 shares valued at approximately $1,097,000 during the first quarter.
• Nasdaq is witnessing increased analyst interest, with multiple firms raising their price targets, leading to a consensus rating of "Moderate Buy" and an average price target of $97.06.
• The firm recently announced a quarterly dividend of $0.27 per share, representing an annualized dividend yield of 1.1%, with the ex-dividend date set for September 12th.

Aigen Investment Management LP purchased a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,461 shares of the financial services provider's stock, valued at approximately $1,097,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Nasdaq by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 52,979,661 shares of the financial services provider's stock worth $4,019,037,000 after acquiring an additional 403,248 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Nasdaq by 5.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock worth $1,550,115,000 after purchasing an additional 993,553 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Nasdaq by 5.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,954,334 shares of the financial services provider's stock valued at $537,640,000 after purchasing an additional 335,565 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Nasdaq by 37.9% during the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock valued at $464,676,000 after purchasing an additional 1,650,201 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Nasdaq by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 5,785,047 shares of the financial services provider's stock worth $438,854,000 after purchasing an additional 484,750 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Stock Down 0.2%

Shares of Nasdaq stock traded down $0.17 during trading on Thursday, reaching $95.40. The company's stock had a trading volume of 2,458,967 shares, compared to its average volume of 3,326,223. The company has a 50-day simple moving average of $90.41 and a two-hundred day simple moving average of $82.18. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The company has a market cap of $54.74 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 2.11 and a beta of 1.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, equities analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's dividend payout ratio is 41.54%.

Insider Buying and Selling at Nasdaq

In other news, insider Pc Nelson Griggs sold 8,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total value of $664,240.00. Following the completion of the transaction, the insider owned 211,405 shares of the company's stock, valued at $17,552,957.15. The trade was a 3.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the sale, the executive vice president directly owned 111,035 shares in the company, valued at approximately $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 sold 32,409 shares of company stock valued at $2,887,839 over the last quarter. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Nasdaq from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Piper Sandler lifted their price target on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Citigroup reissued a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. The Goldman Sachs Group restated a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Finally, Royal Bank Of Canada increased their price target on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Nasdaq has an average rating of "Moderate Buy" and a consensus price target of $97.06.

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.