Fifth Third Bancorp Has $17.70 Million Position in Nasdaq, Inc. $NDAQ

Fifth Third Bancorp lifted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 348.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 208,542 shares of the financial services provider’s stock after buying an additional 162,019 shares during the period. Fifth Third Bancorp’s holdings in Nasdaq were worth $17,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Empowered Funds LLC increased its holdings in Nasdaq by 3.8% in the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 538 shares in the last quarter. Woodline Partners LP lifted its stake in Nasdaq by 40.7% in the first quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock valued at $2,652,000 after buying an additional 10,110 shares during the period. Focus Partners Wealth boosted its holdings in shares of Nasdaq by 22.0% during the 1st quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock worth $1,089,000 after buying an additional 2,584 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Nasdaq by 345.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $45,000 after buying an additional 463 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of Nasdaq by 4.4% during the 2nd quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock worth $1,018,000 after buying an additional 481 shares during the period. 72.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on NDAQ shares. Raymond James Financial reiterated an “outperform” rating and issued a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday. Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a research note on Thursday, June 11th. Keefe, Bruyette & Woods raised their price target on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Barclays reduced their price target on shares of Nasdaq from $114.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, TD Cowen decreased their price target on shares of Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Nasdaq presently has a consensus rating of “Buy” and a consensus target price of $106.92.

Nasdaq Trading Up 1.3%

NASDAQ NDAQ opened at $89.21 on Tuesday. The company has a market cap of $50.45 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 1.53 and a beta of 0.99. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week high of $101.79. The business has a 50 day moving average price of $87.14 and a 200-day moving average price of $88.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the business earned $0.79 EPS. Nasdaq’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, equities analysts expect that Nasdaq, Inc. will post 3.89 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, June 12th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a yield of 1.4%. Nasdaq’s dividend payout ratio is currently 37.35%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, insider Cohen Tal sold 15,518 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $90.75, for a total value of $1,408,258.50. Following the transaction, the insider directly owned 215,208 shares of the company’s stock, valued at approximately $19,530,126. This trade represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michelle Lynn Daly sold 1,323 shares of Nasdaq stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the transaction, the senior vice president owned 10,089 shares of the company’s stock, valued at $896,104.98. This represents a 11.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,551 shares of company stock worth $2,225,990. Corporate insiders own 0.60% of the company’s stock.

About Nasdaq

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.