Resona Asset Management Co. Ltd. Boosts Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in Nasdaq, Inc. by 6.9%, now owning 138,832 shares valued at approximately $10.5 million.
• Analysts have predominantly given Nasdaq a buy rating, with fourteen analysts recommending buying the stock and a consensus price target of $97.06.
• Nasdaq recently reported a quarterly earnings beat with $0.85 EPS, surpassing the consensus estimate of $0.78, alongside a revenue increase of 12.7% year-over-year.

Resona Asset Management Co. Ltd. raised its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 138,832 shares of the financial services provider's stock after acquiring an additional 8,914 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Nasdaq were worth $10,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Grove Bank & Trust grew its holdings in Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 216 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Nasdaq during the 1st quarter valued at about $26,000. Highline Wealth Partners LLC lifted its position 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 valued at $26,000 after buying an additional 317 shares in the last quarter. First Command Advisory Services Inc. bought a new position in shares of Nasdaq during the 1st quarter valued at approximately $30,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Nasdaq in the 4th quarter worth approximately $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NDAQ. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods upped their target price on shares of Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Raymond James Financial reiterated an "outperform" rating and issued a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, Redburn Atlantic raised Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price target on the stock in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Nasdaq has a consensus rating of "Moderate Buy" and an average price target of $97.06.

Insider Buying and Selling at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 111,035 shares of the company's stock, valued at $9,867,680.45. This trade represents a 9.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction that occurred 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 owned 8,879 shares of the company's stock, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,409 shares of company stock worth $2,887,839 in the last 90 days. 0.70% of the stock is currently owned by insiders.

Nasdaq Stock Down 0.6%

NASDAQ NDAQ opened at $95.57 on Thursday. The stock has a 50 day moving average price of $90.41 and a 200-day moving average price of $82.18. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The company has a market capitalization of $54.84 billion, a P/E ratio of 36.76, a P/E/G ratio of 2.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Nasdaq's revenue was up 12.7% on a year-over-year basis. As a group, equities analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

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