Allstate Corp Reduces Stock Position in Nasdaq, Inc. $NDAQ

Key Points

• Allstate Corp reduced its stake in Nasdaq, Inc. by 29.0% to 9,131 shares, valued at approximately $693,000 as of the latest filing.
• Nasdaq recently reported earnings of $0.85 per share, surpassing estimates, and achieved a 12.7% year-over-year revenue growth to $1.31 billion.
• The company announced a quarterly dividend of $0.27 per share, providing an annualized yield of 1.1%, with the ex-dividend date on September 12th.

Allstate Corp decreased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,131 shares of the financial services provider's stock after selling 3,726 shares during the quarter. Allstate Corp's holdings in Nasdaq were worth $693,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in Nasdaq by 7.7% during the first quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider's stock worth $3,274,000 after purchasing an additional 3,096 shares during the last quarter. USA Financial Formulas lifted its stake in Nasdaq by 61.1% during the first quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider's stock worth $1,353,000 after purchasing an additional 6,764 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Nasdaq by 1.2% during the first quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider's stock worth $172,098,000 after purchasing an additional 27,622 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Nasdaq during the fourth quarter worth approximately $48,749,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in Nasdaq during the first quarter worth approximately $222,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of Nasdaq stock in a transaction that occurred on 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 owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president directly owned 92,551 shares in the company, valued at $8,837,694.99. This represents a 2.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,409 shares of company stock valued at $2,223,599. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods raised their price target on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Citigroup restated a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Raymond James Financial restated an "outperform" rating and set a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, UBS Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and raised their price target for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Fourteen 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, Nasdaq presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.06.

Nasdaq Stock Performance

NDAQ traded down $0.50 on Friday, hitting $94.74. 1,742,320 shares of the company traded hands, compared to its average volume of 3,255,397. The company has a 50 day moving average of $92.31 and a 200-day moving average of $83.13. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $54.36 billion, a PE ratio of 36.44, a PEG ratio of 2.08 and a beta of 1.00. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts anticipate 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. Shareholders of record on Friday, September 12th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's payout ratio is currently 41.54%.

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.