Nasdaq, Inc. $NDAQ Shares Bought by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in Nasdaq, Inc. by 128.6%, owning a total of 45,116 shares worth approximately $4.03 million at the end of the last quarter.
• Nasdaq reported a 12.7% increase in quarterly revenue to $1.31 billion and achieved earnings per share of $0.85, surpassing analysts' expectations.
• The company also announced a quarterly dividend of $0.27 per share, reflecting an annualized dividend yield of 1.2%.

Fifth Third Bancorp raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 128.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,116 shares of the financial services provider's stock after acquiring an additional 25,384 shares during the quarter. Fifth Third Bancorp's holdings in Nasdaq were worth $4,034,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Counterpoint Mutual Funds LLC acquired a new position in shares of Nasdaq in the second quarter worth $344,000. GAMMA Investing LLC raised its holdings in shares of Nasdaq by 3.7% in the second quarter. GAMMA Investing LLC now owns 15,442 shares of the financial services provider's stock worth $1,381,000 after acquiring an additional 555 shares during the last quarter. Whitener Capital Management Inc. raised its holdings in shares of Nasdaq by 1.9% in the second quarter. Whitener Capital Management Inc. now owns 12,436 shares of the financial services provider's stock worth $1,112,000 after acquiring an additional 226 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Nasdaq by 30.7% in the second quarter. Park Avenue Securities LLC now owns 9,868 shares of the financial services provider's stock worth $882,000 after acquiring an additional 2,318 shares during the last quarter. Finally, CX Institutional raised its holdings in shares of Nasdaq by 19.4% in the second quarter. CX Institutional now owns 3,349 shares of the financial services provider's stock worth $299,000 after acquiring an additional 545 shares during the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the completion of the sale, the executive vice president owned 111,035 shares of the company's stock, valued at $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president directly owned 92,551 shares of the company's stock, valued at $8,837,694.99. The trade was a 2.22% 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 quarter. Company insiders own 0.70% of the company's stock.

Nasdaq Price Performance

NDAQ stock opened at $87.51 on Friday. The stock has a 50-day moving average price of $93.63 and a two-hundred day moving average price of $84.97. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The company has a market cap of $50.21 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. As a group, research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq's dividend payout ratio is presently 41.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NDAQ shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their target price on Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Piper Sandler upped their target price on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Oppenheimer reiterated an "outperform" rating and issued a $101.00 target price (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods upped their target price on Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.06.

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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