Northstar Asset Management Inc. Sells 14,422 Shares of Nasdaq, Inc. $NDAQ

Northstar Asset Management Inc. decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 25.1% during the second quarter, Holdings Channel reports. The fund owned 43,041 shares of the financial services provider’s stock after selling 14,422 shares during the period. Nasdaq makes up about 1.0% of Northstar Asset Management Inc.’s holdings, making the stock its 28th biggest holding. Northstar Asset Management Inc.’s holdings in Nasdaq were worth $3,393,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in NDAQ. Nissay Asset Management Corp Japan lifted its stake in shares of Nasdaq by 3.4% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 60,725 shares of the financial services provider’s stock valued at $4,786,000 after purchasing an additional 1,995 shares during the period. Braun Stacey Associates Inc. boosted its position in shares of Nasdaq by 0.5% during the second quarter. Braun Stacey Associates Inc. now owns 362,842 shares of the financial services provider’s stock valued at $28,599,000 after purchasing an additional 1,815 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in Nasdaq in the second quarter worth $2,789,000. Kingsview Wealth Management LLC purchased a new stake in Nasdaq in the second quarter worth $216,000. Finally, Beacon Pointe Advisors LLC bought a new position in Nasdaq in the second quarter worth $365,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Performance

Shares of NDAQ opened at $99.31 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $55.51 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.32 and a beta of 0.97. The business’s 50 day moving average price is $91.20 and its 200-day moving average price is $88.40. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. Equities research analysts anticipate that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq’s dividend payout ratio is currently 36.15%.

Wall Street Analyst Weigh In

Several brokerages have commented on NDAQ. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research report on Thursday, June 11th. Raymond James Financial reaffirmed an “outperform” rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Zacks Research upgraded shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $120.00 price target on shares of Nasdaq in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Nasdaq has a consensus rating of “Buy” and an average target price of $110.30.

Insider Transactions at Nasdaq

In other news, insider Pc Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the transaction, the insider directly owned 205,001 shares in the company, valued at $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ab Investor purchased 56,782 shares of Nasdaq stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the acquisition, the insider directly owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 41,797 shares of company stock valued at $3,926,319. Insiders own 0.60% of the company’s stock.

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.