LGT Fund Management Co Ltd. Raises Stake in Nasdaq, Inc. $NDAQ

LGT Fund Management Co Ltd. increased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 2,158.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,366 shares of the financial services provider’s stock after purchasing an additional 48,136 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Nasdaq were worth $4,276,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NDAQ. Empowered Funds LLC lifted its holdings in shares of Nasdaq by 3.8% during the 1st quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock valued at $1,106,000 after acquiring an additional 538 shares in the last quarter. Woodline Partners LP increased its holdings in Nasdaq by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock valued at $2,652,000 after purchasing an additional 10,110 shares in the last quarter. Focus Partners Wealth raised its position in Nasdaq by 22.0% in the first quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock valued at $1,089,000 after purchasing an additional 2,584 shares during the period. Geneos Wealth Management Inc. raised its position in Nasdaq by 345.5% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 463 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in shares of Nasdaq by 4.4% during the second quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 481 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Up 0.6%

Shares of NASDAQ:NDAQ traded up $0.56 during midday trading on Friday, reaching $88.08. The company had a trading volume of 2,620,120 shares, compared to its average volume of 4,808,497. The stock has a market capitalization of $49.81 billion, a P/E ratio of 26.53, a PEG ratio of 1.75 and a beta of 0.99. The stock’s fifty day moving average price is $87.20 and its 200-day moving average price is $89.01. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $2.14 billion during 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 firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. Equities research analysts expect that Nasdaq, Inc. will post 3.89 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, June 12th. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a yield of 1.4%. Nasdaq’s payout ratio is currently 37.35%.

Insider Transactions at Nasdaq

In other news, major shareholder Ab Investor purchased 56,782 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the acquisition, the insider owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cohen Tal sold 15,518 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $90.75, for a total value of $1,408,258.50. Following the transaction, the insider owned 215,208 shares in the company, valued at $19,530,126. This trade represents a 6.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,551 shares of company stock worth $2,225,990. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NDAQ. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a research note on Thursday, June 11th. Loop Capital set a $113.00 price target on Nasdaq in a research report on Friday, April 24th. Barclays decreased their price target on Nasdaq from $114.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Nasdaq currently has an average rating of “Buy” and an average price target of $106.92.

About Nasdaq

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.