PNC Financial Services Group Inc. Has $23.25 Million Position in Nasdaq, Inc. $NDAQ

PNC Financial Services Group Inc. increased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 239,319 shares of the financial services provider’s stock after acquiring an additional 13,288 shares during the period. PNC Financial Services Group Inc.’s holdings in Nasdaq were worth $23,245,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NDAQ. Westside Investment Management Inc. boosted its position in shares of 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 acquiring an additional 159 shares in the last quarter. SOA Wealth Advisors LLC. acquired a new stake in shares of Nasdaq during the 4th quarter valued at about $34,000. Elyxium Wealth LLC acquired a new stake in shares of Nasdaq during the 4th quarter valued at about $44,000. Community Bank N.A. acquired a new stake in shares of Nasdaq during the 3rd quarter valued at about $45,000. Finally, Geneos Wealth Management Inc. boosted its position 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 valued at $45,000 after acquiring an additional 463 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nasdaq

In other Nasdaq news, SVP Michelle Lynn Daly sold 1,323 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the transaction, the senior vice president directly owned 10,089 shares of the company’s stock, valued at approximately $896,104.98. The trade was a 11.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adena T. Friedman sold 113,611 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the completion of the transaction, the chief executive officer directly owned 1,965,751 shares of the company’s stock, valued at approximately $167,953,765.44. This represents a 5.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 231,002 shares of company stock valued at $20,295,941. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $108.00 target price on shares of Nasdaq in a research report on Friday, January 30th. Barclays lifted their target price on shares of Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Raymond James Financial restated an “outperform” rating and issued a $109.00 price target on shares of Nasdaq in a research report on Wednesday, February 25th. JPMorgan Chase & Co. boosted their price target on shares of 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 upgraded shares of Nasdaq from a “hold” rating to a “buy” rating and boosted their price target for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $107.15.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $91.01 on Friday. The firm has a market cap of $51.47 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.84 and a beta of 0.98. Nasdaq, Inc. has a 12 month low of $77.09 and a 12 month high of $101.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $87.62 and its two-hundred day moving average price is $89.86.

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

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be paid a $0.31 dividend. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, June 12th. Nasdaq’s payout ratio is presently 37.35%.

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.