UBS Group AG Reduces Holdings in Nasdaq, Inc. $NDAQ

Key Points

• UBS Group AG cut its stake in Nasdaq by 7.5% to 3,849,407 shares, reducing its holding to about $373.9 million.
• CEO Adena T. Friedman sold 300,000 shares (≈$29.1 million) on Feb. 2, a 13.48% reduction in her position, and insiders have sold 506,451 shares over the last three months.
• Nasdaq beat estimates and raised its dividend: the company reported $0.96 EPS vs. $0.93 expected and $2.14 billion revenue, and increased the quarterly dividend to $0.31 (annualized $1.24, ~1.4% yield).

UBS Group AG cut its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 7.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,849,407 shares of the financial services provider's stock after selling 310,575 shares during the quarter. UBS Group AG owned 0.67% of Nasdaq worth $373,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Tripletail Wealth Management LLC purchased a new stake in Nasdaq during the 3rd quarter valued at about $27,000. Westside Investment Management Inc. raised its position in Nasdaq by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. West Branch Capital LLC bought a new position in Nasdaq during the 3rd quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new position in Nasdaq during the 3rd quarter valued at approximately $30,000. Finally, SOA Wealth Advisors LLC. bought a new position in Nasdaq during the 4th quarter valued at approximately $34,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Adena T. Friedman sold 300,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $96.91, for a total value of $29,073,000.00. Following the completion of the transaction, the chief executive officer owned 1,924,903 shares of the company's stock, valued at approximately $186,542,349.73. This represents a 13.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 506,451 shares of company stock valued at $47,142,951. 0.70% of the stock is currently owned by corporate insiders.

Nasdaq Stock Up 0.6%

Shares of NASDAQ:NDAQ opened at $90.43 on Tuesday. Nasdaq, Inc. has a 52-week low of $74.11 and a 52-week high of $101.79. The firm has a market capitalization of $51.40 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.94 and a beta of 1.02. The stock has a 50 day moving average price of $85.87 and a 200-day moving average price of $89.61. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.00.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The business's revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Nasdaq, Inc. will post 3.84 EPS for the current fiscal year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. This is an increase from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's dividend payout ratio is currently 32.53%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NDAQ shares. Keefe, Bruyette & Woods upped their price target on Nasdaq from $92.00 to $97.00 and gave the company a "market perform" rating in a research report on Friday. Raymond James Financial reaffirmed an "outperform" rating and set a $109.00 price target on shares of Nasdaq in a research report on Wednesday, February 25th. UBS Group reaffirmed a "buy" rating and set a $120.00 price target (up from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. JPMorgan Chase & Co. upped their price target on Nasdaq from $100.00 to $101.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Finally, TD Cowen raised Nasdaq from a "hold" rating to a "buy" rating and upped their price target for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.15.

Nasdaq Company 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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