Nuveen LLC Makes New $241.61 Million Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• Nuveen LLC has made a significant investment of $241.61 million by acquiring 3,184,996 shares of Nasdaq, Inc., representing approximately 0.55% of the company.
• Several institutional investors, including Aigen Investment Management and Virtu Financial, have also recently increased their investments in Nasdaq, leading to 72.47% of the stock being owned by these entities.
• Nasdaq has announced a quarterly dividend of $0.27 per share, which will be distributed to shareholders, reflecting an annualized yield of 1.1%.

Nuveen LLC bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,184,996 shares of the financial services provider's stock, valued at approximately $241,614,000. Nuveen LLC owned about 0.55% of Nasdaq at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aigen Investment Management LP purchased a new position in shares of Nasdaq in the 1st quarter valued at approximately $1,097,000. Virtu Financial LLC purchased a new position in shares of Nasdaq in the 1st quarter valued at approximately $253,000. Invesco Ltd. grew its stake in shares of Nasdaq by 40.8% in the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock valued at $416,795,000 after purchasing an additional 1,592,057 shares during the last quarter. Fiduciary Family Office LLC purchased a new position in shares of Nasdaq in the 1st quarter valued at approximately $348,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Nasdaq by 17.0% in the 1st quarter. Benjamin Edwards Inc. now owns 471,417 shares of the financial services provider's stock valued at $35,762,000 after purchasing an additional 68,445 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nasdaq

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the business's 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 completion of the transaction, the senior vice president directly owned 8,879 shares of the company's stock, valued at $829,742.55. The trade was a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction on 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 transaction, the executive vice president directly owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,409 shares of company stock valued at $2,887,839 in the last three months. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NDAQ shares. Redburn Atlantic upgraded Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a research note on Thursday, April 17th. Raymond James Financial reiterated an "outperform" rating and issued a $96.00 target price (up from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Citigroup reiterated a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Oppenheimer restated an "outperform" rating and issued a $101.00 price target (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Finally, Piper Sandler lifted their price target on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and a consensus target price of $97.06.

Nasdaq Stock Up 0.4%

NDAQ opened at $96.85 on Monday. The business's fifty day moving average is $89.67 and its two-hundred day moving average is $81.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $55.57 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.13 and a beta of 1.00. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.47.

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

Nasdaq Announces Dividend

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

Nasdaq 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.

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