United Services Automobile Association Makes New Investment in Nasdaq, Inc. $NDAQ

Key Points

• United Services Automobile Association acquired 8,275 shares of Nasdaq, Inc. in the first quarter, valued at approximately $620,000.
• Insider transactions included EVP Jeremy Skule selling 2,105 shares and EVP Bradley J. Peterson selling 11,508 shares, indicating a decrease in their ownership stakes.
• Nasdaq declared a quarterly dividend of $0.27 per share, which will be paid on September 26th, with a current dividend yield of 1.1%.

United Services Automobile Association purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,275 shares of the financial services provider's stock, valued at approximately $620,000.

A number of other hedge funds also recently bought and sold shares of NDAQ. Vanguard Group Inc. boosted its holdings in shares of Nasdaq by 0.8% in the first quarter. Vanguard Group Inc. now owns 52,979,661 shares of the financial services provider's stock worth $4,019,037,000 after buying an additional 403,248 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Nasdaq by 5.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock worth $1,550,115,000 after purchasing an additional 993,553 shares during the period. Harris Associates L P grew its position in Nasdaq by 1.2% during the 1st quarter. Harris Associates L P now owns 8,693,469 shares of the financial services provider's stock worth $659,487,000 after purchasing an additional 101,983 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Nasdaq by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,785,047 shares of the financial services provider's stock valued at $438,854,000 after purchasing an additional 484,750 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Nasdaq by 40.8% in the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock valued at $416,795,000 after purchasing an additional 1,592,057 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the completion of the transaction, the executive vice president owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value 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. The trade was a 49.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,409 shares of company stock valued at $2,223,599 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Nasdaq Stock Down 2.0%

Shares of NDAQ stock traded down $1.93 on Friday, hitting $93.95. The company's stock had a trading volume of 2,947,784 shares, compared to its average volume of 2,459,310. The stock has a market capitalization of $53.91 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 2.10 and a beta of 1.02. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The firm's fifty day moving average price is $93.60 and its 200-day moving average price is $84.16. 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 (NASDAQ:NDAQ - Get Free Report) last posted its earnings results 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. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The business's quarterly revenue was up 12.7% on a year-over-year basis. Research analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 12th. Nasdaq's payout ratio is 41.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NDAQ. Citigroup reiterated a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Morgan Stanley lifted their target price on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada increased their price target on shares of Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Oppenheimer restated an "outperform" rating and set a $101.00 price target (up from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Finally, UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and upped their price objective for the company from $95.00 to $115.00 in a research note on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq currently has an average rating of "Moderate Buy" and a consensus price target of $97.06.

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.