Citigroup Inc. Grows Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• Citigroup Inc. increased its stake in Nasdaq, Inc. by 117.5% during the first quarter, holding 467,668 shares valued at approximately $35.5 million.
• Several other institutional investors also boosted their positions in Nasdaq, contributing to a total of 72.47% of the company being owned by hedge funds and other institutional investors.
• Nasdaq recently declared a quarterly dividend of $0.27, with an annualized yield of 1.1%, and reported an earnings per share of $0.85, surpassing expectations.

Citigroup Inc. increased its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 117.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 467,668 shares of the financial services provider's stock after acquiring an additional 252,634 shares during the quarter. Citigroup Inc. owned about 0.08% of Nasdaq worth $35,477,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in shares of Nasdaq by 7.7% in the first quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider's stock worth $3,274,000 after acquiring an additional 3,096 shares during the last quarter. USA Financial Formulas raised its stake in shares of Nasdaq by 61.1% in the first quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider's stock worth $1,353,000 after acquiring an additional 6,764 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Nasdaq by 1.2% in the first quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider's stock worth $172,098,000 after acquiring an additional 27,622 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Nasdaq in the fourth quarter worth about $48,749,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in shares of Nasdaq in the first quarter worth about $222,000. Institutional investors own 72.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NDAQ shares. Piper Sandler boosted their price target on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods boosted their price target 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Raymond James Financial reissued an "outperform" rating and set a $96.00 price target (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, Redburn Atlantic upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.06.

Nasdaq Stock Down 0.2%

NDAQ traded down $0.17 during trading on Thursday, hitting $95.40. 2,459,288 shares of the company's stock were exchanged, compared to its average volume of 3,326,228. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The business's 50 day moving average is $90.41 and its two-hundred day moving average is $82.18. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The stock has a market cap of $54.74 billion, a P/E ratio of 36.69, a PEG ratio of 2.11 and a beta of 1.00.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping 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 firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business's revenue was up 12.7% on a year-over-year basis. As a group, equities analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.27 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Nasdaq's dividend payout ratio is presently 41.54%.

Insider Activity

In other news, insider Pc Nelson Griggs sold 8,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were 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 represents a 3.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the sale, the executive vice president owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,409 shares of company stock worth $2,887,839. 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.