Principal Financial Group Inc. trimmed its stake in shares of Nasdaq Inc (NASDAQ:NDAQ) by 0.9% in the first quarter, HoldingsChannel.com reports. The firm owned 178,808 shares of the financial services provider’s stock after selling 1,662 shares during the quarter. Principal Financial Group Inc.’s holdings in Nasdaq were worth $15,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its position in Nasdaq by 41.7% during the fourth quarter. Deutsche Bank AG now owns 2,100,466 shares of the financial services provider’s stock worth $161,374,000 after purchasing an additional 618,137 shares during the period. Millennium Management LLC boosted its position in shares of Nasdaq by 78.0% in the fourth quarter. Millennium Management LLC now owns 1,565,207 shares of the financial services provider’s stock valued at $120,255,000 after acquiring an additional 685,770 shares during the period. Geode Capital Management LLC boosted its position in shares of Nasdaq by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 1,337,143 shares of the financial services provider’s stock valued at $102,535,000 after acquiring an additional 49,198 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Nasdaq by 2.1% in the first quarter. Frontier Capital Management Co. LLC now owns 1,207,725 shares of the financial services provider’s stock valued at $104,130,000 after acquiring an additional 24,649 shares during the period. Finally, Findlay Park Partners LLP bought a new stake in shares of Nasdaq in the first quarter valued at about $94,842,000. 74.77% of the stock is owned by hedge funds and other institutional investors.
NDAQ opened at $91.87 on Tuesday. Nasdaq Inc has a twelve month low of $69.52 and a twelve month high of $96.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $15.63 billion, a P/E ratio of 22.63, a PEG ratio of 1.98 and a beta of 0.65.
Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.04. Nasdaq had a net margin of 17.88% and a return on equity of 12.93%. The business had revenue of $735.00 million during the quarter, compared to analysts’ expectations of $649.55 million. During the same quarter in the prior year, the business posted $1.10 earnings per share. Nasdaq’s revenue was up 21.3% compared to the same quarter last year. analysts anticipate that Nasdaq Inc will post 4.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a dividend of $0.44 per share. This is a boost from Nasdaq’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.76 annualized dividend and a yield of 1.92%. Nasdaq’s dividend payout ratio is currently 43.35%.
NDAQ has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Nasdaq from $87.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, April 26th. Wells Fargo & Co boosted their target price on shares of Nasdaq from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, March 29th. BidaskClub raised shares of Nasdaq from a “hold” rating to a “buy” rating in a research report on Thursday, March 8th. Sanford C. Bernstein initiated coverage on shares of Nasdaq in a research report on Monday, April 9th. They issued a “market perform” rating and a $90.00 target price for the company. Finally, Zacks Investment Research raised shares of Nasdaq from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Friday, April 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Nasdaq presently has a consensus rating of “Buy” and a consensus price target of $90.46.
In related news, Director Lars Wedenborn sold 2,097 shares of the company’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $91.89, for a total transaction of $192,693.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward S. Knight sold 26,258 shares of the company’s stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $88.20, for a total transaction of $2,315,955.60. Following the sale, the executive vice president now directly owns 86,627 shares of the company’s stock, valued at approximately $7,640,501.40. The disclosure for this sale can be found here. Insiders have sold 31,755 shares of company stock valued at $2,811,039 in the last ninety days. 0.40% of the stock is currently owned by company insiders.
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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