KLP Kapitalforvaltning AS Sells 4,300 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

KLP Kapitalforvaltning AS cut its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,384 shares of the financial services provider's stock after selling 4,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Nasdaq were worth $17,173,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Nasdaq during the fourth quarter worth about $424,285,000. Ameriprise Financial Inc. lifted its position in shares of Nasdaq by 37.9% during the 4th quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock worth $464,676,000 after buying an additional 1,650,201 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of 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 buying an additional 1,225,672 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Nasdaq by 40.3% in the 4th quarter. Invesco Ltd. now owns 3,902,214 shares of the financial services provider's stock valued at $301,680,000 after purchasing an additional 1,120,538 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Nasdaq by 7,367.6% in the 1st quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider's stock valued at $85,671,000 after purchasing an additional 1,114,205 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $89.17, for a total value of $187,702.85. Following the sale, the executive vice president owned 94,656 shares in the company, valued at approximately $8,440,475.52. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total value of $664,240.00. Following the completion of the sale, the insider owned 211,405 shares in the company, valued at $17,552,957.15. This trade represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,613 shares of company stock worth $1,874,659. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NDAQ. Royal Bank Of Canada raised their price target on shares of Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a research note on Friday. Citigroup reiterated a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $95.00 to $115.00 in a research report on Friday. Bank of America increased their price target on Nasdaq from $103.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group increased their price target on Nasdaq from $85.00 to $97.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and a consensus price target of $96.63.

Nasdaq Stock Performance

Shares of NDAQ traded up $1.34 on Friday, reaching $94.84. 5,276,392 shares of the company's stock traded hands, compared to its average volume of 3,344,174. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The stock has a market cap of $54.45 billion, a PE ratio of 43.11, a PEG ratio of 2.12 and a beta of 1.01. The stock's 50 day simple moving average is $86.87 and its two-hundred day simple moving average is $80.60. Nasdaq, Inc. has a 52-week low of $64.33 and a 52-week high of $95.49.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. On average, analysts forecast that Nasdaq, Inc. will post 3.18 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 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.14%. Nasdaq's dividend payout ratio is presently 49.09%.

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.