Prudential PLC Acquires 9,773 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• Prudential PLC increased its stake in Nasdaq, Inc. by 7.0% during the first quarter, holding a total of 148,723 shares valued at approximately $11.28 million.
• Several institutional investors have also significantly increased their positions in Nasdaq, with over 72% of the stock owned by institutional investors.
• Nasdaq's recent quarterly earnings showed a 12.7% revenue increase year-over-year, reporting an EPS of $0.85, surpassing estimates by $0.07.

Prudential PLC grew its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,723 shares of the financial services provider's stock after acquiring an additional 9,773 shares during the quarter. Prudential PLC's holdings in Nasdaq were worth $11,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vestcor Inc boosted its holdings in Nasdaq by 1.6% in the first quarter. Vestcor Inc now owns 8,825 shares of the financial services provider's stock valued at $669,000 after acquiring an additional 141 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Nasdaq by 1.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider's stock worth $1,260,000 after purchasing an additional 157 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Nasdaq by 4.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 4,103 shares of the financial services provider's stock worth $317,000 after purchasing an additional 164 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of Nasdaq by 7.1% in the 1st quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider's stock worth $215,000 after purchasing an additional 187 shares in the last quarter. Finally, Grove Bank & Trust raised its position in Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NDAQ shares. Wall Street Zen raised Nasdaq from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Citigroup reissued a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Morgan Stanley increased their price target on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada raised their target price on Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $97.06.

Nasdaq Price Performance

NASDAQ NDAQ traded down $0.17 during trading hours on Thursday, hitting $95.40. The company had a trading volume of 2,459,288 shares, compared to its average volume of 3,719,879. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The firm has a 50 day simple moving average of $90.64 and a 200 day simple moving average of $82.28. 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 firm has a market capitalization of $54.74 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.10 and a beta of 1.00.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company earned $0.69 EPS. The firm's revenue was up 12.7% compared to the same quarter last year. Equities research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.27 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.1%. Nasdaq's dividend payout ratio (DPR) is currently 41.54%.

Insider Buying and Selling

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the firm'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 transaction, the executive vice president owned 92,551 shares in the company, valued at $8,837,694.99. This trade represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of Nasdaq stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the sale, the executive vice president 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 position. The disclosure for this sale can be found here. Insiders have sold 32,409 shares of company stock worth $2,887,839 in the last 90 days. 0.70% of the stock is owned by company insiders.

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.