Allstate Corp Has $3.38 Million Stock Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Allstate Corp boosted its Nasdaq stake by 117% in the fourth quarter, buying 18,759 additional shares and bringing its total holding to 34,794 shares valued at about $3.38 million.
• Nasdaq reported better-than-expected quarterly results, with earnings of $0.96 per share versus $0.93 expected and revenue of $2.14 billion, up 13.7% year over year.
• The company also raised its quarterly dividend to $0.31 per share from $0.27, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $107.15.

Allstate Corp increased its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 117.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,794 shares of the financial services provider's stock after buying an additional 18,759 shares during the period. Allstate Corp's holdings in Nasdaq were worth $3,380,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NDAQ. Westside Investment Management Inc. lifted its position in Nasdaq by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. SOA Wealth Advisors LLC. bought a new position in shares of Nasdaq during the 4th quarter worth approximately $34,000. Elyxium Wealth LLC bought a new position in shares of Nasdaq during the 4th quarter worth approximately $44,000. Community Bank N.A. bought a new position in shares of Nasdaq during the 3rd quarter worth approximately $45,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Nasdaq by 345.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $45,000 after buying an additional 463 shares in the last quarter. Institutional investors own 72.47% of the company's stock.

Wall Street Analyst Weigh In

NDAQ has been the topic of several recent analyst reports. TD Cowen raised shares of Nasdaq from a "hold" rating to a "buy" rating and lifted their target price for the stock from $105.00 to $106.00 in a research report on Thursday, February 26th. Argus raised shares of Nasdaq to a "strong-buy" rating in a research report on Wednesday, February 11th. Loop Capital set a $113.00 target price on shares of Nasdaq in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Nasdaq from a "sell" rating to a "hold" rating in a research note on Sunday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Nasdaq from $100.00 to $101.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.15.

Nasdaq Stock Down 0.4%

Nasdaq stock opened at $90.53 on Thursday. Nasdaq, Inc. has a 1-year low of $77.09 and a 1-year high of $101.79. The firm has a market capitalization of $51.20 billion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 1.81 and a beta of 0.98. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The firm has a 50 day simple moving average of $87.96 and a 200 day simple moving average of $89.99.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business earned $0.79 EPS. Nasdaq's revenue was up 13.7% compared to the same quarter last year. On average, analysts predict that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.31 per share. This is a boost from Nasdaq's previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, June 12th. Nasdaq's dividend payout ratio (DPR) is currently 32.53%.

Insider Buying and Selling

In other news, CEO Adena T. Friedman sold 113,611 shares of the company's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the sale, the chief executive officer directly owned 1,965,751 shares in the company, valued at $167,953,765.44. This represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michelle Lynn Daly sold 1,323 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the transaction, the senior vice president owned 10,089 shares of the company's stock, valued at $896,104.98. This trade represents a 11.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 231,002 shares of company stock valued at $20,295,941. Corporate insiders own 0.60% of the company's stock.

Nasdaq Profile

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.

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