Truist Financial Corp Has $34.98 Million Position in Nasdaq, Inc. $NDAQ

Key Points

• Truist Financial Corp reduced its stake in Nasdaq, Inc. by 8.1% during the second quarter, leaving it with 391,129 shares valued at approximately $34.98 million.
• Several hedge funds increased their positions in Nasdaq, with notable increases of 25.7% by Greenleaf Trust and 38.8% by Campbell Newman Asset Management.
• Nasdaq recently announced a quarterly dividend of $0.27, representing a $1.08 annualized dividend and a yield of 1.2%, with a payout ratio of 41.54%.

Truist Financial Corp cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 8.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,129 shares of the financial services provider's stock after selling 34,268 shares during the period. Truist Financial Corp owned 0.07% of Nasdaq worth $34,975,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Trivium Point Advisory LLC acquired a new stake in Nasdaq during the 2nd quarter worth about $209,000. Greenleaf Trust grew its stake in Nasdaq by 25.7% during the second quarter. Greenleaf Trust now owns 15,161 shares of the financial services provider's stock worth $1,356,000 after purchasing an additional 3,101 shares during the period. Campbell Newman Asset Management Inc. grew its stake in Nasdaq by 38.8% during the second quarter. Campbell Newman Asset Management Inc. now owns 334,274 shares of the financial services provider's stock worth $29,891,000 after purchasing an additional 93,455 shares during the period. Janney Montgomery Scott LLC increased its holdings in Nasdaq by 10.8% in the second quarter. Janney Montgomery Scott LLC now owns 47,837 shares of the financial services provider's stock worth $4,278,000 after purchasing an additional 4,676 shares in the last quarter. Finally, Invesco LLC lifted its stake in Nasdaq by 74.6% in the second quarter. Invesco LLC now owns 5,837 shares of the financial services provider's stock valued at $522,000 after buying an additional 2,493 shares during the period. Institutional investors own 72.47% of the company's stock.

Insiders Place Their Bets

In other news, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. This represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction dated 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 of the company's stock, 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. 0.70% of the stock is owned by corporate insiders.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $87.34 on Friday. The company has a market capitalization of $50.11 billion, a P/E ratio of 33.59, a P/E/G ratio of 1.90 and a beta of 0.98. The business has a fifty day simple moving average of $93.46 and a two-hundred day simple moving average of $85.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63.

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

Nasdaq Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on NDAQ shares. Piper Sandler lifted their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and raised their price target for the stock from $95.00 to $115.00 in a report on Friday, July 25th. Barclays upped their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective 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, Keefe, Bruyette & Woods boosted their target price on Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.31.

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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