Corient Private Wealth LP Trims Position in Nasdaq, Inc. $NDAQ

Corient Private Wealth LP reduced its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 19.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,716 shares of the financial services provider's stock after selling 24,791 shares during the period. Corient Private Wealth LP's holdings in Nasdaq were worth $7,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Groupe la Francaise lifted its position in Nasdaq by 5.4% in the second quarter. Groupe la Francaise now owns 138,516 shares of the financial services provider's stock valued at $10,924,000 after buying an additional 7,082 shares during the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Nasdaq in the 2nd quarter valued at approximately $115,000. HB Wealth Management LLC raised its stake in shares of Nasdaq by 4.3% in the 2nd quarter. HB Wealth Management LLC now owns 20,140 shares of the financial services provider's stock valued at $1,587,000 after acquiring an additional 826 shares during the period. Saudi Central Bank lifted its holdings in shares of Nasdaq by 88.8% in the 2nd quarter. Saudi Central Bank now owns 31,833 shares of the financial services provider's stock worth $2,509,000 after acquiring an additional 14,972 shares during the last quarter. Finally, AlphaGrep UK Ltd acquired a new position in shares of Nasdaq in the 2nd quarter worth approximately $522,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Insiders Place Their Bets

In other Nasdaq news, insider Nelson Griggs sold 11,010 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider directly owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction of $1,203,930.00. Following the completion of the sale, the executive vice president owned 128,293 shares in the company, valued at $11,881,214.73. The trade was a 9.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,922 shares of company stock worth $4,032,316 in the last 90 days. Corporate insiders own 0.60% of the company's stock.

Nasdaq Trading Up 2.9%

NDAQ opened at $91.31 on Friday. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month high of $101.79. The stock has a market capitalization of $51.04 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 1.55 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $94.48 and a 200 day moving average price of $89.61.

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

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, September 11th. Nasdaq's payout ratio is 36.15%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Zacks Research raised Nasdaq from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Morgan Stanley restated an "overweight" rating and set a $120.00 price target on shares of Nasdaq in a research report on Friday, July 24th. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a report on Thursday, June 11th. Keefe, Bruyette & Woods lifted their target price on Nasdaq from $92.00 to $102.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Nasdaq currently has an average rating of "Buy" and a consensus target price of $110.30.

Nasdaq Company Profile

Nasdaq, Inc NASDAQ: NDAQ operates financial markets and provides technology, data and analytics services to exchanges, brokers, institutional investors, corporations and other financial institutions. The company is best known for operating the Nasdaq Stock Market, a major U.S. equities exchange and a prominent venue for technology and growth companies.

Nasdaq's businesses include listings, trading, market data, indexes, clearing and market infrastructure solutions. Through its technology platforms, the company provides exchange operators and financial institutions with systems for trading, surveillance, risk management, regulatory compliance and other market functions.

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