Nasdaq, Inc. $NDAQ Shares Sold by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. significantly reduced its holdings in Nasdaq, Inc. by 87.5%, selling 19,670 shares during the 2nd quarter, leading to a total ownership of 2,810 shares valued at $251,000.
• Despite the selling pressure from LGT Fund Management, other institutional investors such as Janney Montgomery Scott LLC and USA Financial Formulas increased their stakes in Nasdaq during the same period.
• Nasdaq announced a quarterly dividend of $0.27 per share, with an annualized dividend yield of 1.2%, while also reporting strong quarterly earnings that surpassed analyst expectations.

LGT Fund Management Co Ltd. lessened its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 87.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,810 shares of the financial services provider's stock after selling 19,670 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Nasdaq were worth $251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NDAQ. Janney Montgomery Scott LLC grew its stake in shares of Nasdaq by 7.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider's stock worth $3,274,000 after purchasing an additional 3,096 shares during the period. USA Financial Formulas grew its stake in shares of Nasdaq by 61.1% during the 1st quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider's stock worth $1,353,000 after purchasing an additional 6,764 shares during the period. Principal Financial Group Inc. grew its stake in shares of Nasdaq by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider's stock worth $172,098,000 after purchasing an additional 27,622 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in shares of Nasdaq during the 1st quarter worth approximately $222,000. Finally, Manning & Napier Advisors LLC grew its stake in shares of Nasdaq by 3.9% during the 1st quarter. Manning & Napier Advisors LLC now owns 861,437 shares of the financial services provider's stock worth $65,349,000 after purchasing an additional 32,004 shares during the period. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Stock Up 0.3%

NASDAQ NDAQ opened at $87.61 on Friday. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 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. The business's fifty day simple moving average is $93.31 and its 200-day simple moving average is $85.52. The firm has a market cap of $50.27 billion, a PE ratio of 33.70, a P/E/G ratio of 2.00 and a beta of 0.98.

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

Nasdaq Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Piper Sandler raised their price objective 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. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $96.00 price objective (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. UBS Group raised shares of Nasdaq from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Finally, Barclays raised their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.31.

Insider Buying and Selling at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of Nasdaq 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 transaction, the executive vice president owned 92,551 shares in the company, valued at $8,837,694.99. The trade was a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares in the company, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

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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