Bank of New York Mellon Corp Makes New $165.85 Million Investment in Nasdaq, Inc. $NDAQ

Bank of New York Mellon Corp purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,104,183 shares of the financial services provider's stock, valued at approximately $165,852,000. Bank of New York Mellon Corp owned about 0.38% of Nasdaq as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NDAQ. Focus Partners Advisor Solutions LLC acquired a new stake in Nasdaq in the second quarter valued at approximately $954,000. Helios Capital Management PTE. Ltd. acquired a new position in shares of Nasdaq in the 2nd quarter worth approximately $1,336,000. EJMK Ventures LLC acquired a new position in Nasdaq in the second quarter valued at $383,000. Bridgewater Advisors Inc. bought a new stake in shares of Nasdaq during the 2nd quarter valued at about $222,000. Finally, Trust Asset Management LLC boosted its holdings in shares of Nasdaq by 7.9% during the 2nd quarter. Trust Asset Management LLC now owns 4,915 shares of the financial services provider's stock worth $387,000 after buying an additional 360 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NDAQ shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a research report on Monday, July 20th. Barclays reiterated an "overweight" rating and issued a $111.00 price objective (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. TD Cowen reissued a "buy" rating and issued a $105.00 price target (up from $101.00) on shares of Nasdaq in a report on Monday, July 20th. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a report on Thursday, June 11th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $110.30.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $98.22 on Monday. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month high of $101.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $54.90 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.30 and a beta of 0.96. The business has a 50-day moving average of $89.85 and a 200-day moving average of $87.97.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.09. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm's revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Sell-side analysts expect that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, September 11th. Nasdaq's dividend payout ratio (DPR) is presently 36.15%.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,000 shares of the firm's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the sale, the executive vice president owned 128,293 shares of the company's stock, valued at $11,881,214.73. This trade represents a 9.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 11,010 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the sale, the insider directly owned 205,001 shares in the company, valued at $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 41,797 shares of company stock worth $3,926,319. Company insiders own 0.60% of the company's stock.

About Nasdaq

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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