Manning & Napier Advisors LLC Acquires 32,004 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Manning & Napier Advisors LLC increased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 861,437 shares of the financial services provider's stock after buying an additional 32,004 shares during the quarter. Manning & Napier Advisors LLC owned about 0.15% of Nasdaq worth $65,349,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Grove Bank & Trust grew its stake in shares of Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after acquiring an additional 216 shares during the period. Rakuten Securities Inc. bought a new stake in Nasdaq in the 4th quarter worth approximately $26,000. Highline Wealth Partners LLC grew its position in Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after purchasing an additional 317 shares during the period. Opal Wealth Advisors LLC bought a new stake in Nasdaq in the 1st quarter worth approximately $26,000. Finally, Kestra Investment Management LLC bought a new stake in Nasdaq in the 4th quarter worth approximately $33,000. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Performance

NASDAQ NDAQ opened at $86.10 on Friday. The firm has a market cap of $49.43 billion, a price-to-earnings ratio of 39.14, a price-to-earnings-growth ratio of 2.22 and a beta of 1.00. 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 business has a 50-day moving average price of $80.31 and a 200-day moving average price of $78.75. Nasdaq, Inc. has a twelve month low of $59.44 and a twelve month high of $87.50.

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

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.27 per share. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date is Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.25%. Nasdaq's dividend payout ratio is currently 49.09%.

Analyst Ratings Changes

A number of research firms have issued reports on NDAQ. Redburn Atlantic upgraded Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a research note on Thursday, April 17th. Wall Street Zen upgraded shares of Nasdaq from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Morgan Stanley lowered shares of Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 target price for the company. in a research report on Tuesday, April 8th. UBS Group reissued a "cautious" rating on shares of Nasdaq in a research report on Monday, April 28th. Finally, Barclays cut their price objective on shares of Nasdaq from $86.00 to $84.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Nasdaq presently has an average rating of "Moderate Buy" and an average price target of $87.19.

Insider Buying and Selling

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

Nasdaq 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.

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