Nasdaq, Inc. (NASDAQ:NDAQ) is Seven Grand Managers LLC's 2nd Largest Position

Key Points

• Seven Grand Managers LLC increased its stake in Nasdaq, Inc. by 66.7% during the first quarter, making it the firm's second largest position with 500,000 shares valued at approximately $37.93 million.
• Other institutional investors have also increased their holdings in Nasdaq, with notable acquisitions including Nuveen LLC at about $241.6 million and Ameriprise Financial Inc. boosting its position by 37.9%.
• Nasdaq recently declared a quarterly dividend of $0.27 per share, translating to an annualized dividend yield of 1.1%, with an ex-dividend date set for September 12th.

Seven Grand Managers LLC increased its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 66.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 500,000 shares of the financial services provider's stock after acquiring an additional 200,000 shares during the quarter. Nasdaq makes up about 8.9% of Seven Grand Managers LLC's portfolio, making the stock its 2nd biggest holding. Seven Grand Managers LLC owned 0.09% of Nasdaq worth $37,930,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the business. Nuveen LLC acquired a new position in shares of Nasdaq during the 1st quarter valued at about $241,614,000. Ameriprise Financial Inc. boosted 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 valued at $464,676,000 after acquiring an additional 1,650,201 shares during the last quarter. Invesco Ltd. boosted its position in shares of Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock valued at $416,795,000 after acquiring an additional 1,592,057 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Nasdaq by 7,367.6% during 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 acquiring an additional 1,114,205 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Nasdaq by 5.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock valued at $1,550,115,000 after acquiring an additional 993,553 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Oppenheimer reissued an "outperform" rating and set a $101.00 price target (up previously from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Barclays upped their target price on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $97.06.

Insider Activity at Nasdaq

In other Nasdaq news, 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 directly owned 111,035 shares in the company, valued at $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the transaction, the executive vice president owned 92,551 shares in the company, valued at $8,837,694.99. This represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,409 shares of company stock valued at $2,887,839. Company insiders own 0.70% of the company's stock.

Nasdaq Stock Down 0.2%

Shares of NASDAQ:NDAQ opened at $95.40 on Friday. The firm's 50 day moving average price is $90.64 and its 200 day moving average price is $82.28. The stock has a market cap of $54.74 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. 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 (NASDAQ:NDAQ - Get Free Report) last issued its earnings results 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. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. As a group, equities research analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 12th. Nasdaq's dividend payout ratio is currently 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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