Nasdaq, Inc. $NDAQ Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 6.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 177,061 shares of the financial services provider’s stock after selling 12,835 shares during the quarter. Fifth Third Bancorp’s holdings in Nasdaq were worth $16,291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NDAQ. Assenagon Asset Management S.A. increased its position in shares of Nasdaq by 572.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,988,348 shares of the financial services provider’s stock valued at $182,948,000 after purchasing an additional 1,692,770 shares during the last quarter. Daiichi Life Insurance Co. Ltd. bought a new stake in Nasdaq in the second quarter worth $1,236,000. Munich Reinsurance Co Stock Corp in Munich lifted its position in Nasdaq by 3.0% in the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 889,447 shares of the financial services provider’s stock worth $70,106,000 after buying an additional 25,524 shares during the last quarter. NINE MASTS CAPITAL Ltd boosted its stake in Nasdaq by 106.5% during the second quarter. NINE MASTS CAPITAL Ltd now owns 27,130 shares of the financial services provider’s stock worth $2,138,000 after buying an additional 13,992 shares during the period. Finally, Tandem Investment Advisors Inc. purchased a new position in Nasdaq during the first quarter worth $13,891,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NDAQ shares. Zacks Research downgraded shares of Nasdaq from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 21st. Wells Fargo & Company raised their target price on shares of Nasdaq from $100.00 to $111.00 and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Raymond James Financial dropped their price objective on Nasdaq from $119.00 to $109.00 in a research report on Friday, October 9th. Barclays set a $121.00 price objective on Nasdaq and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Finally, TD Cowen decreased their price target on shares of Nasdaq from $108.00 to $107.00 and set a “buy” rating for the company in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus price target of $113.53.

Nasdaq Stock Down 0.2%

Shares of NDAQ opened at $108.47 on Friday. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $111.45. The company has a market capitalization of $60.20 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. The stock has a fifty day simple moving average of $97.71 and a two-hundred day simple moving average of $91.15. 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 quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. Nasdaq had a net margin of 22.81% and a return on equity of 19.03%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $0.31 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.24 dividend on an annualized basis and a yield of 1.1%. Nasdaq’s payout ratio is currently 33.88%.

Insider Activity at Nasdaq

In related news, insider Tal Cohen sold 10,390 shares of the stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $103.34, for a total transaction of $1,073,702.60. Following the completion of the transaction, the insider directly owned 205,076 shares of the company’s stock, valued at $21,192,553.84. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeremy Skule sold 1,125 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $95.00, for a total transaction of $106,875.00. Following the completion of the transaction, the executive vice president directly owned 96,561 shares of the company’s stock, valued at approximately $9,173,295. This trade represents a 1.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,452 shares of company stock worth $3,366,669 in the last quarter. Company insiders own 0.60% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc. is a global technology and financial markets company best known for operating the Nasdaq Stock Market. Its exchange services support the listing and trading of equities and other financial products, and the company provides market data and trading technology to exchanges, brokers, investors, and other financial institutions. Nasdaq also develops software and services for financial institutions and corporations, including solutions for regulatory compliance, market surveillance, and the detection and prevention of financial crime.