Legal & General Group Plc Grows Stock Position in Nasdaq, Inc. $NDAQ

by · The Cerbat Gem

Legal & General Group Plc increased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,855,235 shares of the financial services provider’s stock after buying an additional 45,783 shares during the quarter. Legal & General Group Plc’s holdings in Nasdaq were worth $277,329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Swedbank AB lifted its position in Nasdaq by 3.3% during the fourth quarter. Swedbank AB now owns 84,783 shares of the financial services provider’s stock worth $8,235,000 after buying an additional 2,715 shares during the period. Coldstream Capital Management Inc. lifted its position in Nasdaq by 27.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 11,326 shares of the financial services provider’s stock worth $1,100,000 after buying an additional 2,473 shares during the period. Guinness Asset Management LTD lifted its position in Nasdaq by 28.1% during the fourth quarter. Guinness Asset Management LTD now owns 13,104 shares of the financial services provider’s stock worth $1,296,000 after buying an additional 2,876 shares during the period. Evoke Wealth LLC lifted its position in Nasdaq by 18.8% during the fourth quarter. Evoke Wealth LLC now owns 4,978 shares of the financial services provider’s stock worth $484,000 after buying an additional 789 shares during the period. Finally, FourThought Financial Partners LLC lifted its position in Nasdaq by 0.9% during the fourth quarter. FourThought Financial Partners LLC now owns 133,843 shares of the financial services provider’s stock worth $13,000,000 after buying an additional 1,191 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NDAQ has been the topic of several recent analyst reports. Barclays increased their target price on Nasdaq from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Loop Capital set a $113.00 price target on Nasdaq in a research note on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and set a $108.00 price target on shares of Nasdaq in a research note on Friday, January 30th. Raymond James Financial restated an “outperform” rating and set a $109.00 price target on shares of Nasdaq in a research note on Wednesday, February 25th. Finally, Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and an average price target of $107.15.

View Our Latest Analysis on NDAQ

Insider Buying and Selling

In related news, insider Cohen Tal sold 15,518 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $90.75, for a total value of $1,408,258.50. Following the completion of the transaction, the insider owned 215,208 shares of the company’s stock, valued at approximately $19,530,126. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bradley J. Peterson sold 7,710 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total value of $700,222.20. Following the completion of the transaction, the executive vice president directly owned 141,035 shares of the company’s stock, valued at $12,808,798.70. This represents a 5.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 231,002 shares of company stock worth $20,295,941 in the last ninety days. 0.60% of the stock is owned by corporate insiders.

Nasdaq Price Performance

NDAQ stock opened at $90.88 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. Nasdaq, Inc. has a 1 year low of $77.09 and a 1 year high of $101.79. The firm has a market cap of $51.40 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 1.82 and a beta of 0.98. The stock has a 50-day simple moving average of $87.87 and a 200-day simple moving average of $89.96.

Nasdaq (NASDAQ:NDAQ – Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts predict that Nasdaq, Inc. will post 3.86 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

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

Nasdaq Profile

(Free Report)

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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