Envestnet Portfolio Solutions Inc. Acquires 3,731 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Nasdaq, Inc. by 17.3%, acquiring an additional 3,731 shares, bringing its total holdings to 25,244 shares valued at approximately $2.26 million.
• Several hedge funds, including Invesco Ltd. and Nuveen LLC, significantly increased their stakes in Nasdaq during the first quarter, reflecting strong institutional interest in the company.
• Nasdaq recently announced a quarterly dividend of $0.27 per share, with a yield of 1.2% and a dividend payout ratio of 41.54%.

Envestnet Portfolio Solutions Inc. increased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 17.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,244 shares of the financial services provider's stock after acquiring an additional 3,731 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Nasdaq were worth $2,257,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NDAQ. Nuveen LLC bought a new stake in shares of Nasdaq in the first quarter worth about $241,614,000. Invesco Ltd. increased its holdings in shares of Nasdaq by 40.8% in the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock worth $416,795,000 after acquiring an additional 1,592,057 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Nasdaq by 5.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock worth $1,550,115,000 after acquiring an additional 993,553 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Nasdaq by 104.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider's stock worth $125,574,000 after acquiring an additional 845,725 shares in the last quarter. Finally, Jefferies Financial Group Inc. increased its holdings in shares of Nasdaq by 2,462.5% in the first quarter. Jefferies Financial Group Inc. now owns 788,249 shares of the financial services provider's stock worth $59,797,000 after acquiring an additional 757,488 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Insider Buying and Selling

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the sale, the senior vice president directly owned 8,879 shares of the company's stock, valued at $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeremy Skule sold 2,105 shares of the firm's 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 of the company's stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NDAQ. Royal Bank Of Canada restated an "outperform" rating and issued a $108.00 price target on shares of Nasdaq in a report on Thursday, October 9th. Citigroup reiterated a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Finally, Piper Sandler increased their price objective on Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and a consensus price target of $97.50.

Nasdaq Stock Down 1.9%

NDAQ stock opened at $87.94 on Friday. 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 business has a 50 day moving average price of $92.08 and a two-hundred day moving average price of $86.24. The company has a market cap of $50.46 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 2.00 and a beta of 0.98. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business's revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

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

About Nasdaq

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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