Truist Financial Corp Sells 26,489 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Truist Financial Corp reduced its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,821,490 shares of the financial services provider's stock after selling 26,489 shares during the period. Truist Financial Corp owned about 0.49% of Nasdaq worth $164,041,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its position in shares of Nasdaq by 214.0% in the third quarter. The Manufacturers Life Insurance Company now owns 6,281,617 shares of the financial services provider's stock valued at $305,224,000 after buying an additional 4,280,846 shares during the last quarter. LGT Capital Partners LTD. boosted its position in Nasdaq by 136.5% during the fourth quarter. LGT Capital Partners LTD. now owns 1,264,990 shares of the financial services provider's stock worth $73,547,000 after purchasing an additional 730,200 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Nasdaq by 16.6% in the third quarter. Ameriprise Financial Inc. now owns 4,787,784 shares of the financial services provider's stock valued at $232,564,000 after purchasing an additional 681,238 shares during the last quarter. Flossbach Von Storch AG boosted its holdings in shares of Nasdaq by 230.9% during the 3rd quarter. Flossbach Von Storch AG now owns 795,943 shares of the financial services provider's stock worth $38,675,000 after buying an additional 555,412 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Nasdaq by 34.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,070,450 shares of the financial services provider's stock valued at $100,603,000 after acquiring an additional 533,086 shares during the period. Institutional investors own 72.47% of the company's stock.

Insider Activity

In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the sale, the insider now directly owns 58,341,545 shares of the company's stock, valued at $3,383,809,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the transaction, the insider now owns 58,341,545 shares of the company's stock, valued at $3,383,809,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bryan Everard Smith sold 7,400 shares of Nasdaq stock in a transaction on Monday, April 1st. The stock was sold at an average price of $62.91, for a total transaction of $465,534.00. Following the transaction, the executive vice president now owns 61,672 shares in the company, valued at approximately $3,879,785.52. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NDAQ has been the topic of several research reports. The Goldman Sachs Group raised Nasdaq from a "neutral" rating to a "buy" rating and set a $73.00 target price on the stock in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods cut their price objective on shares of Nasdaq from $75.00 to $74.00 and set an "outperform" rating for the company in a report on Friday. Oppenheimer increased their target price on shares of Nasdaq from $65.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday, February 1st. Citigroup lifted their price target on shares of Nasdaq from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, January 12th. Finally, Piper Sandler boosted their price target on Nasdaq from $70.00 to $71.00 and gave the company an "overweight" rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $66.92.

Nasdaq Price Performance

Nasdaq stock traded down $0.17 during midday trading on Friday, reaching $60.12. The company's stock had a trading volume of 4,792,085 shares, compared to its average volume of 3,181,565. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.94. The stock has a market cap of $34.58 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. Nasdaq, Inc. has a 52 week low of $46.88 and a 52 week high of $64.25. The business has a 50-day moving average price of $59.93 and a 200-day moving average price of $56.46.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. The company's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. On average, sell-side analysts predict that Nasdaq, Inc. will post 2.75 EPS for the current year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from Nasdaq's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.60%. Nasdaq's dividend payout ratio is 41.71%.

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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