Sumitomo Mitsui Trust Group Inc. Purchases 11,970 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Sumitomo Mitsui Trust Group Inc. raised its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,118,924 shares of the financial services provider's stock after buying an additional 11,970 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Nasdaq worth $84,882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Nasdaq by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 52,576,413 shares of the financial services provider's stock valued at $4,064,682,000 after purchasing an additional 376,893 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Nasdaq by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 11,018,705 shares of the financial services provider's stock valued at $849,783,000 after purchasing an additional 257,465 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Nasdaq by 13.4% during the 4th quarter. Franklin Resources Inc. now owns 10,379,012 shares of the financial services provider's stock worth $802,401,000 after buying an additional 1,225,672 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Nasdaq by 5.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,954,334 shares of the financial services provider's stock worth $537,640,000 after buying an additional 335,565 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Nasdaq by 37.9% in the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock valued at $464,676,000 after buying an additional 1,650,201 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Stock Up 0.4%

NASDAQ:NDAQ traded up $0.34 during trading hours on Monday, reaching $89.42. The company had a trading volume of 3,731,458 shares, compared to its average volume of 3,042,946. Nasdaq, Inc. has a twelve month low of $59.46 and a twelve month high of $89.98. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a market cap of $51.34 billion, a price-to-earnings ratio of 40.65, a P/E/G ratio of 2.30 and a beta of 1.00. The business's 50-day simple moving average is $81.87 and its two-hundred day simple moving average is $78.99.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The business's revenue was up 10.7% on a year-over-year basis. On average, equities analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, June 13th. This is a boost from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's dividend payout ratio (DPR) is 49.09%.

Analysts Set New Price Targets

NDAQ has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of Nasdaq from $87.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Redburn Atlantic raised shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a research note on Thursday, April 17th. Piper Sandler upped their price target on shares of Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Barclays reduced their price objective on Nasdaq from $86.00 to $84.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, Oppenheimer set a $96.00 target price on Nasdaq and gave the company an "outperform" rating in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.19.

Insider Activity at Nasdaq

In related news, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total value of $664,240.00. Following the transaction, the insider directly owned 211,405 shares in the company, valued at $17,552,957.15. This trade represents a 3.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bryan Everard Smith sold 657 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $71.81, for a total transaction of $47,179.17. Following the transaction, the executive vice president owned 61,980 shares in the company, valued at approximately $4,450,783.80. The trade was a 1.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Nasdaq Company 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.