Shell Asset Management Co. Has $4.18 Million Position in Nasdaq, Inc. $NDAQ

Key Points

• Shell Asset Management Co. increased its stake in Nasdaq, Inc. by 113.4% in the second quarter, bringing its total holdings to $4.18 million.
• Nasdaq reported a net margin of 18.59% and a return on equity of 15.90%, with quarterly earnings per share beating estimates.
• A series of institutional investments have strengthened Nasdaq, with a notable increase in holdings from firms like Bruce G. Allen Investments LLC and Grove Bank & Trust.

Shell Asset Management Co. raised its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 113.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,765 shares of the financial services provider's stock after acquiring an additional 24,852 shares during the quarter. Shell Asset Management Co.'s holdings in Nasdaq were worth $4,182,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NDAQ. Bruce G. Allen Investments LLC lifted its stake 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 last quarter. Grove Bank & Trust lifted its stake 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 last quarter. Highline Wealth Partners LLC lifted its stake 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 last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq during the 1st quarter worth about $26,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Nasdaq during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Price Performance

NDAQ stock opened at $88.44 on Wednesday. The firm has a market cap of $50.75 billion, a P/E ratio of 34.02, a P/E/G ratio of 2.01 and a beta of 0.98. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The company's 50-day moving average price is $93.02 and its two-hundred day moving average price is $85.68. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63.

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

Nasdaq Dividend Announcement

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

Insider Activity at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction that occurred on Friday, August 1st. The shares were 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. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $812,173.95. Following the sale, the senior vice president owned 8,879 shares in the company, valued at approximately $829,742.55. This represents a 49.46% 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 Upgrades and Downgrades

A number of research firms have recently issued reports on NDAQ. Raymond James Financial restated an "outperform" rating and set a $96.00 target price (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Oppenheimer restated an "outperform" rating and set a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a research report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Nasdaq currently has an average rating of "Moderate Buy" and an average target price 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.

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