Munich Reinsurance Co Stock Corp in Munich Acquires 25,524 Shares of Nasdaq, Inc. $NDAQ

Munich Reinsurance Co Stock Corp in Munich lifted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.0% during the second quarter, HoldingsChannel reports. The firm owned 889,447 shares of the financial services provider’s stock after acquiring an additional 25,524 shares during the quarter. Nasdaq comprises 1.6% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 22nd largest holding. Munich Reinsurance Co Stock Corp in Munich’s holdings in Nasdaq were worth $70,106,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Empowered Funds LLC increased its stake in Nasdaq by 3.8% during the 1st quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 538 shares in the last quarter. Woodline Partners LP lifted its stake in Nasdaq by 40.7% in the first quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock valued at $2,652,000 after buying an additional 10,110 shares in the last quarter. Focus Partners Wealth lifted its stake 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 buying an additional 2,584 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of 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 buying an additional 463 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in shares of Nasdaq by 4.4% in the second quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock valued at $1,018,000 after buying an additional 481 shares during the period. Institutional investors own 72.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NDAQ shares. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. 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 note on Thursday, July 9th. Keefe, Bruyette & Woods increased their target price on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research note on Thursday, June 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $120.00 price target on shares of Nasdaq in a 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 issued a Hold rating to the stock. According to MarketBeat, Nasdaq presently has a consensus rating of “Buy” and a consensus target price of $110.30.

Insiders Place Their Bets

In related news, major shareholder Ab Investor acquired 56,782 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the purchase, the insider directly owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nelson Griggs sold 11,010 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the sale, the insider directly owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,797 shares of company stock valued at $3,926,319 in the last 90 days. 0.60% of the stock is currently owned by insiders.

Nasdaq Trading Down 1.9%

Nasdaq stock opened at $96.88 on Friday. The company has a market cap of $54.15 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.73 and a beta of 0.97. The firm has a 50-day moving average of $92.89 and a 200-day moving average of $88.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79.

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

Nasdaq Dividend Announcement

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

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.