SG Americas Securities LLC Boosts Stake in Nasdaq, Inc. $NDAQ

Key Points

• SG Americas Securities LLC increased its stake in Nasdaq by 340.6% in the first quarter, buying 521,749 additional shares and bringing its total holdings to 674,919 shares worth about $57.3 million.
• Nasdaq reported strong quarterly results, with earnings of $0.96 per share and revenue of $2.14 billion, both above analyst estimates. Revenue rose 13.7% year over year.
• The company also raised its quarterly dividend to $0.31 per share from $0.27, while analysts currently rate the stock a Moderate Buy with a consensus target price of $106.79.

SG Americas Securities LLC boosted its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 340.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 674,919 shares of the financial services provider's stock after buying an additional 521,749 shares during the period. SG Americas Securities LLC owned approximately 0.12% of Nasdaq worth $57,294,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Fortem Financial Group LLC grew its holdings in shares of Nasdaq by 215.7% in the first quarter. Fortem Financial Group LLC now owns 25,780 shares of the financial services provider's stock valued at $2,188,000 after purchasing an additional 17,614 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Nasdaq by 32.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 77,898 shares of the financial services provider's stock valued at $6,613,000 after purchasing an additional 19,249 shares in the last quarter. Genesis Private Wealth LLC lifted its position in Nasdaq by 39.5% during the first quarter. Genesis Private Wealth LLC now owns 3,124 shares of the financial services provider's stock valued at $265,000 after purchasing an additional 885 shares during the last quarter. Diversified Trust Co lifted its position in Nasdaq by 120.1% during the first quarter. Diversified Trust Co now owns 10,206 shares of the financial services provider's stock valued at $866,000 after purchasing an additional 5,568 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Nasdaq by 52.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 833,095 shares of the financial services provider's stock worth $80,919,000 after buying an additional 285,606 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Price Performance

Nasdaq stock opened at $82.61 on Tuesday. The firm has a market capitalization of $46.72 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 1.64 and a beta of 0.97. Nasdaq, Inc. has a 12-month low of $77.09 and a 12-month high of $101.79. The firm has a 50-day moving average price of $88.69 and a 200-day moving average price of $89.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The firm's revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. As a group, equities research analysts forecast that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.31 per share. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, June 12th. Nasdaq's payout ratio is currently 37.35%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NDAQ. Raymond James Financial restated an "outperform" rating and issued a $109.00 target price on shares of Nasdaq in a report on Wednesday, February 25th. TD Cowen dropped their price target on Nasdaq from $104.00 to $98.00 and set a "buy" rating for the company in a research report on Monday. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research note on Thursday, June 11th. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $97.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $106.79.

Insider Transactions at Nasdaq

In related news, EVP Bradley J. Peterson sold 7,710 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the sale, the executive vice president directly owned 141,035 shares of the company's stock, valued at approximately $12,808,798.70. This trade represents a 5.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cohen Tal sold 15,518 shares of the business's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $90.75, for a total value of $1,408,258.50. Following the transaction, the insider owned 215,208 shares of the company's stock, valued at approximately $19,530,126. The trade was a 6.73% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 138,162 shares of company stock valued at $11,932,913. Company insiders own 0.60% of the company's stock.

Nasdaq Profile

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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