Municipal Employees Retirement System of Michigan acquired a new position in Nasdaq Inc (NASDAQ:NDAQ) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,020 shares of the financial services provider’s stock, valued at approximately $246,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. bought a new position in Nasdaq in the 3rd quarter worth about $2,486,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Nasdaq in the 3rd quarter worth about $412,000. Allianz Asset Management GmbH grew its stake in Nasdaq by 137.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 33,272 shares of the financial services provider’s stock worth $2,855,000 after acquiring an additional 19,256 shares in the last quarter. Jane Street Group LLC grew its stake in Nasdaq by 360.5% in the 3rd quarter. Jane Street Group LLC now owns 10,563 shares of the financial services provider’s stock worth $906,000 after acquiring an additional 8,269 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Nasdaq by 14.1% in the 3rd quarter. Pacer Advisors Inc. now owns 5,781 shares of the financial services provider’s stock worth $496,000 after acquiring an additional 714 shares in the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.
NASDAQ NDAQ opened at $88.47 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.97 and a current ratio of 0.97. Nasdaq Inc has a 52-week low of $75.49 and a 52-week high of $96.84. The company has a market cap of $14.63 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.18 and a beta of 0.63.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.99%. Nasdaq’s dividend payout ratio is presently 36.36%.
In other news, insider Bradley J. Peterson sold 6,159 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $85.48, for a total transaction of $526,471.32. Following the transaction, the insider now directly owns 39,482 shares in the company, valued at $3,374,921.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas A. Wittman sold 13,561 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $88.04, for a total transaction of $1,193,910.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,059 shares of company stock worth $1,841,213. Insiders own 0.50% of the company’s stock.
A number of equities analysts have commented on NDAQ shares. BidaskClub upgraded shares of Nasdaq from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 25th. Zacks Investment Research downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Friday, January 11th. ValuEngine downgraded shares of Nasdaq from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Raymond James dropped their target price on shares of Nasdaq from $97.00 to $96.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 5th. Finally, Argus started coverage on shares of Nasdaq in a research note on Wednesday, February 6th. They issued a “buy” rating and a $97.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Nasdaq currently has a consensus rating of “Hold” and a consensus price target of $96.43.
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Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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