Nasdaq, Inc. $NDAQ Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group trimmed its Nasdaq stake by 2.3% in Q1, selling 49,914 shares and leaving it with 2,159,588 shares valued at about $183.3 million.
• Nasdaq’s latest earnings beat expectations, with EPS of $0.96 versus $0.93 expected and revenue of $2.14 billion, up 13.7% year over year.
• The company raised its quarterly dividend to $0.31 per share from $0.27, while analysts currently maintain a Buy consensus with an average price target of $107.42.

Principal Financial Group Inc. decreased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,159,588 shares of the financial services provider's stock after selling 49,914 shares during the quarter. Principal Financial Group Inc. owned 0.38% of Nasdaq worth $183,327,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NDAQ. MV Capital Management Inc. acquired a new stake in Nasdaq in the fourth quarter worth about $28,000. SOA Wealth Advisors LLC. acquired a new position in Nasdaq during the 4th quarter valued at about $34,000. Nemes Rush Group LLC acquired a new position in Nasdaq during the 4th quarter valued at about $35,000. Uniplan Investment Counsel Inc. bought a new stake in shares of Nasdaq during the 4th quarter worth about $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in shares of Nasdaq in the 4th quarter worth approximately $37,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Cohen Tal sold 15,518 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $90.75, for a total value of $1,408,258.50. Following the completion of the transaction, the insider owned 215,208 shares in the company, valued at $19,530,126. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michelle Lynn Daly sold 1,323 shares of Nasdaq stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the transaction, the senior vice president directly owned 10,089 shares in the company, valued at $896,104.98. This represents a 11.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 24,551 shares of company stock valued at $2,225,990 over the last ninety days. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NDAQ shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Nasdaq in a report on Wednesday, April 22nd. Morgan Stanley dropped their target price on Nasdaq from $116.00 to $112.00 and set an "overweight" rating on the stock in a report on Friday, July 10th. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research note on Thursday, June 11th. Finally, Barclays lowered their price target on Nasdaq from $114.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $107.42.

Nasdaq Trading Down 1.3%

Shares of NASDAQ:NDAQ opened at $88.01 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $49.77 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.54 and a beta of 0.99. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The company has a 50 day moving average price of $87.12 and a 200 day moving average price of $88.82.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. The firm's revenue was up 13.7% on a year-over-year basis. On average, research analysts anticipate that Nasdaq, Inc. will post 3.91 EPS for the current fiscal year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, June 12th. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's payout ratio is presently 37.35%.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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