MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Increases Position in Nasdaq, Inc. $NDAQ

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Nasdaq, Inc. by 12.3%, now owning 743,463 shares valued at approximately $66.48 million.
• Nasdaq reported a quarterly earnings of $0.85 per share, surpassing estimates, with revenues of $1.31 billion, a 12.7% increase year-over-year.
• Insider transactions revealed significant sales, with SVP Michelle Lynn Daly selling 8,691 shares and EVP Bradley J. Peterson selling 11,508 shares, indicating a notable decrease in their holdings.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 12.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 743,463 shares of the financial services provider's stock after purchasing an additional 81,621 shares during the period. Nasdaq accounts for 1.9% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's investment portfolio, making the stock its 13th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned approximately 0.13% of Nasdaq worth $66,480,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Grove Bank & Trust grew its position in shares of Nasdaq by 194.6% in 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 during the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock worth $25,000 after acquiring an additional 120 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq in the 1st quarter worth $26,000. Highline Wealth Partners LLC boosted its holdings in Nasdaq by 1,509.5% during the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after buying an additional 317 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in Nasdaq during the first quarter worth about $30,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nasdaq

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares of the company's stock, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the transaction, the executive vice president owned 111,035 shares in the company, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,409 shares of company stock valued at $2,223,599 over the last three months. 0.70% of the stock is owned by corporate insiders.

Nasdaq Stock Down 1.5%

NDAQ stock opened at $87.15 on Thursday. The firm's 50-day simple moving average is $93.73 and its 200 day simple moving average is $84.77. The stock has a market cap of $50.01 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63.

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 for the quarter, beating the consensus estimate of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $0.69 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be 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 is Friday, September 12th. Nasdaq's dividend payout ratio is 41.54%.

Wall Street Analyst Weigh In

NDAQ has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their target price on shares of Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Morgan Stanley upped their target price on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup restated a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, Raymond James Financial restated an "outperform" rating and issued a $96.00 target price (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Nasdaq currently has an average rating of "Moderate Buy" and a consensus target price of $97.06.

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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