QRG Capital Management Inc. Purchases 20,637 Shares of Nasdaq, Inc. $NDAQ

Key Points

• QRG Capital Management Inc. increased its stake in Nasdaq, Inc. by 53.1%, purchasing an additional 20,637 shares in the second quarter, bringing its total holdings to 59,504 shares, valued at approximately $5.3 million.
• Following recent earnings results, Nasdaq reported $0.85 earnings per share, surpassing analysts' expectations, with quarterly revenue up 12.7% year-over-year, reaching $1.31 billion.
• Nasdaq announced a quarterly dividend of $0.27 per share, representing an annualized yield of 1.2% and a payout ratio of around 41.54%.

QRG Capital Management Inc. increased its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 53.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 59,504 shares of the financial services provider's stock after buying an additional 20,637 shares during the period. QRG Capital Management Inc.'s holdings in Nasdaq were worth $5,321,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust boosted its holdings in shares of Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after buying an additional 216 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in shares of Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock worth $25,000 after buying an additional 120 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Nasdaq during the 1st quarter worth about $26,000. Highline Wealth Partners LLC boosted its holdings in shares of Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after buying an additional 317 shares during the period. Finally, First Command Advisory Services Inc. bought a new stake in shares of Nasdaq during the 1st quarter worth about $30,000. Institutional investors own 72.47% of the company's stock.

Nasdaq Price Performance

NDAQ stock opened at $87.61 on Monday. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $50.27 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 2.00 and a beta of 0.98. The company has a 50 day simple moving average of $93.31 and a 200 day simple moving average of $85.58.

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

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, September 12th. Nasdaq's payout ratio is presently 41.54%.

Insider Buying and Selling

In other Nasdaq news, SVP Michelle Lynn Daly sold 8,691 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeremy Skule sold 2,105 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 92,551 shares in the company, valued at $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Morgan Stanley set a $90.00 price objective on shares of Nasdaq and gave the company an "equal weight" rating in a report on Wednesday. Piper Sandler boosted their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Nasdaq in a report on Saturday, September 27th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and a consensus price target of $97.31.

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.

Want to see what other hedge funds are holding NDAQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nasdaq, Inc. (NASDAQ:NDAQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.