Envestnet Asset Management Inc. Sells 53,824 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Envestnet Asset Management Inc. trimmed its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,736,842 shares of the financial services provider's stock after selling 53,824 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.30% of Nasdaq worth $131,757,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NDAQ. Vanguard Group Inc. raised its position in shares of Nasdaq by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 52,576,413 shares of the financial services provider's stock worth $4,064,682,000 after acquiring an additional 376,893 shares during the last quarter. Geode Capital Management LLC raised its holdings in Nasdaq by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 11,018,705 shares of the financial services provider's stock worth $849,783,000 after purchasing an additional 257,465 shares during the last quarter. Franklin Resources Inc. raised its holdings in Nasdaq by 13.4% during the 4th quarter. Franklin Resources Inc. now owns 10,379,012 shares of the financial services provider's stock worth $802,401,000 after purchasing an additional 1,225,672 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Nasdaq by 5.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,954,334 shares of the financial services provider's stock worth $537,640,000 after purchasing an additional 335,565 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Nasdaq by 37.9% in the 4th quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock valued at $464,676,000 after purchasing an additional 1,650,201 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Up 1.0%

Nasdaq stock traded up $0.90 during midday trading on Thursday, hitting $90.73. 3,096,945 shares of the stock were exchanged, compared to its average volume of 3,073,690. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $52.09 billion, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. Nasdaq, Inc. has a 52-week low of $60.77 and a 52-week high of $90.83. The business's 50-day moving average price is $84.32 and its 200-day moving average price is $79.58.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business posted $0.63 EPS. Nasdaq's quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.27 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.19%. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's payout ratio is 49.09%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NDAQ. Keefe, Bruyette & Woods boosted their price objective on Nasdaq from $87.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Royal Bank Of Canada restated an "outperform" rating and issued a $95.00 price target on shares of Nasdaq in a report on Thursday, April 10th. Barclays upped their price objective on shares of Nasdaq from $84.00 to $101.00 and gave the company an "overweight" rating in a report on Thursday. Redburn Atlantic raised Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 target price for the company in a research report on Thursday, April 17th. Finally, Citigroup reiterated a "neutral" rating on shares of Nasdaq in a report on Wednesday. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.69.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction dated 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 $9,867,680.45. This trade represents a 9.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $89.17, for a total value of $187,702.85. Following the completion of the transaction, the executive vice president owned 94,656 shares of the company's stock, valued at $8,440,475.52. The trade was a 2.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,613 shares of company stock valued at $1,874,659. 0.70% of the stock is currently owned by corporate insiders.

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.