Kentucky Retirement Systems Insurance Trust Fund Takes $909,000 Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,977 shares of the financial services provider's stock, valued at approximately $909,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NDAQ. Grove Bank & Trust lifted its holdings in Nasdaq by 194.6% during 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 in the last quarter. Rakuten Securities Inc. bought a new stake in Nasdaq during the 4th quarter valued at about $26,000. Highline Wealth Partners LLC lifted its holdings in Nasdaq by 1,509.5% during 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 in the last quarter. Opal Wealth Advisors LLC bought a new stake in Nasdaq during the 1st quarter valued at about $26,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Nasdaq during the 4th quarter valued at about $37,000. Institutional investors own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

NDAQ has been the subject of a number of research analyst reports. Citigroup decreased their price objective on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. UBS Group reissued a "cautious" rating on shares of Nasdaq in a research report on Monday, April 28th. Morgan Stanley downgraded shares of Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 target price on the stock. in a research report on Tuesday, April 8th. Piper Sandler raised their target price on shares of Nasdaq from $80.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Finally, Oppenheimer set a $96.00 target price on shares of Nasdaq and gave the company an "outperform" rating in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $87.19.

Nasdaq Stock Down 0.1%

Shares of Nasdaq stock traded down $0.07 on Wednesday, reaching $88.05. The stock had a trading volume of 2,884,579 shares, compared to its average volume of 3,023,380. The company has a 50 day moving average price of $81.21 and a 200 day moving average price of $78.90. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. Nasdaq, Inc. has a 1 year low of $59.44 and a 1 year high of $88.78. The stock has a market capitalization of $50.55 billion, a P/E ratio of 40.02, a P/E/G ratio of 2.27 and a beta of 1.00.

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

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, June 13th. This is an increase from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's payout ratio is currently 49.09%.

Insiders Place Their Bets

In other Nasdaq news, insider Pc Nelson Griggs sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total transaction of $664,240.00. Following the sale, the insider now owns 211,405 shares of the company's stock, valued at approximately $17,552,957.15. The trade was a 3.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bryan Everard Smith sold 657 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $71.81, for a total transaction of $47,179.17. Following the sale, the executive vice president now directly owns 61,980 shares in the company, valued at approximately $4,450,783.80. This represents a 1.05% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by 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.