Nykredit A S Invests $61.52 Million in Nasdaq, Inc. $NDAQ

Key Points

• Nykredit A/S acquired 780,473 Nasdaq shares worth approximately $61.5 million, giving it a 0.14% stake. Institutional investors collectively own 72.47% of Nasdaq.
• Nasdaq reported quarterly EPS of $1.07, exceeding estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. Analysts maintain a consensus “Buy” rating with an average price target of $110.30.
• Nasdaq declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 1.3% yield. Corporate insiders sold 42,922 shares worth $4.03 million during the latest quarter.

Nykredit A S acquired a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 780,473 shares of the financial services provider's stock, valued at approximately $61,517,000. Nykredit A S owned about 0.14% of Nasdaq at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Nasdaq during the 2nd quarter valued at $2,931,637,000. Geode Capital Management LLC increased its holdings in shares of Nasdaq by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider's stock worth $1,243,807,000 after purchasing an additional 378,577 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Nasdaq in the second quarter worth about $603,631,000. Nuveen LLC lifted its position in Nasdaq by 82.0% during the fourth quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider's stock valued at $589,897,000 after purchasing an additional 2,736,322 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Nasdaq in the 4th quarter worth approximately $530,100,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Nasdaq news, EVP Jeremy Skule sold 1,125 shares of Nasdaq stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $94.22, for a total transaction of $105,997.50. Following the sale, the executive vice president owned 101,198 shares of the company's stock, valued at $9,534,875.56. The trade was a 1.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bradley J. Peterson sold 13,000 shares of the business's stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total value of $1,203,930.00. Following the transaction, the executive vice president owned 128,293 shares in the company, valued at approximately $11,881,214.73. This represents a 9.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 42,922 shares of company stock worth $4,032,316 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $93.54 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day moving average price of $94.59 and a 200-day moving average price of $89.64. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The firm has a market cap of $52.29 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.59 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm's revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. Equities research analysts forecast that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq's dividend payout ratio is presently 36.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NDAQ shares. Zacks Research upgraded shares of Nasdaq from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Morgan Stanley reissued an "overweight" rating and issued a $120.00 price target on shares of Nasdaq in a research report on Friday, July 24th. TD Cowen reaffirmed a "buy" rating and set a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Keefe, Bruyette & Woods lifted their target price on Nasdaq from $92.00 to $102.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $110.30.

Nasdaq Company Profile

Nasdaq, Inc NASDAQ: NDAQ operates financial markets and provides technology, data and analytics services to exchanges, brokers, institutional investors, corporations and other financial institutions. The company is best known for operating the Nasdaq Stock Market, a major U.S. equities exchange and a prominent venue for technology and growth companies.

Nasdaq's businesses include listings, trading, market data, indexes, clearing and market infrastructure solutions. Through its technology platforms, the company provides exchange operators and financial institutions with systems for trading, surveillance, risk management, regulatory compliance and other market functions.

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