Ascent Group LLC Has $4.37 Million Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Ascent Group LLC increased its stake in Nasdaq, Inc. by 33.5%, holding a total of $4.37 million in shares after acquiring an additional 12,246 shares in the 2nd quarter.
• Institutional investors and hedge funds now own 72.47% of Nasdaq's stock, showcasing significant interest from large investment firms.
• Nasdaq recently reported a 12.7% year-over-year revenue growth, with quarterly earnings of $1.31 billion and an EPS of $0.85, exceeding analysts' expectations.

Ascent Group LLC increased its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 33.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,809 shares of the financial services provider's stock after buying an additional 12,246 shares during the quarter. Ascent Group LLC's holdings in Nasdaq were worth $4,365,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NDAQ. Grove Bank & Trust boosted its holdings in shares of Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after buying an additional 216 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock valued at $25,000 after buying an additional 120 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq in the 1st quarter valued at approximately $26,000. Highline Wealth Partners LLC boosted its holdings in shares of Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after buying an additional 317 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in Nasdaq in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup reiterated a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Nasdaq in a report on Saturday, September 27th. Piper Sandler upped their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and upped their price objective for the company from $95.00 to $115.00 in a report on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.31.

Nasdaq Stock Up 0.3%

Shares of NASDAQ NDAQ opened at $87.61 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The stock has a market capitalization of $50.27 billion, a P/E ratio of 33.70, a PEG ratio of 1.99 and a beta of 0.98. The stock's fifty day moving average is $93.31 and its 200 day moving average is $85.45.

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. 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 analysts' expectations of $1.26 billion. During the same quarter last year, the business earned $0.69 earnings per share. Nasdaq's revenue was up 12.7% on a year-over-year basis. Sell-side analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, September 12th. Nasdaq's payout ratio is currently 41.54%.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president owned 92,551 shares in the company, valued at $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares in the company, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Nasdaq Company 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.

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