The Manufacturers Life Insurance Company Takes Position in Nasdaq, Inc. $NDAQ

The Manufacturers Life Insurance Company purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,793,430 shares of the financial services provider’s stock, valued at approximately $377,818,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. lifted its holdings in Nasdaq by 7.8% in the 4th quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 111 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of Nasdaq by 2.6% during the fourth quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock worth $444,000 after buying an additional 117 shares in the last quarter. Quantum Portfolio Management LLC grew its holdings in shares of Nasdaq by 1.8% during the first quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider’s stock worth $606,000 after buying an additional 123 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Nasdaq by 5.2% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,713 shares of the financial services provider’s stock valued at $264,000 after buying an additional 133 shares during the last quarter. Finally, Fielder Capital Group LLC raised its position in shares of Nasdaq by 3.1% in the fourth quarter. Fielder Capital Group LLC now owns 4,571 shares of the financial services provider’s stock valued at $444,000 after buying an additional 137 shares during the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $98.79 on Tuesday. The company’s 50-day moving average is $90.00 and its two-hundred day moving average is $88.05. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $55.22 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.30 and a beta of 0.96.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS. Analysts forecast that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. Nasdaq’s payout ratio is currently 36.15%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NDAQ. Keefe, Bruyette & Woods boosted their price target on shares of Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Zacks Research upgraded shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Barclays reaffirmed an “overweight” rating and issued a $111.00 price target (up from $108.00) on shares of Nasdaq in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $110.30.

Insider Buying and Selling at Nasdaq

In other news, insider Pc Nelson Griggs sold 11,010 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the transaction, the insider owned 205,001 shares of the company’s stock, valued at $19,751,846.35. This represents a 5.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bradley J. Peterson sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the completion of the transaction, the executive vice president directly owned 128,293 shares in the company, valued at approximately $11,881,214.73. This trade represents a 9.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,797 shares of company stock worth $3,926,319 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Nasdaq 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.