Summit Securities Group LLC Takes Position in Nasdaq, Inc. (NDAQ)
Summit Securities Group LLC purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,027 shares of the financial services provider’s stock, valued at approximately $645,000.
A number of other hedge funds and other institutional investors have also modified their holdings of NDAQ. LGT Capital Partners LTD. boosted its position in shares of Nasdaq by 21.5% in the first quarter. LGT Capital Partners LTD. now owns 147,640 shares of the financial services provider’s stock worth $10,254,000 after buying an additional 26,090 shares during the period. Huntington National Bank boosted its position in shares of Nasdaq by 1,030.5% in the first quarter. Huntington National Bank now owns 6,478 shares of the financial services provider’s stock valued at $450,000 after buying an additional 5,905 shares during the period. Bollard Group LLC boosted its position in shares of Nasdaq by 14.2% in the first quarter. Bollard Group LLC now owns 22,853 shares of the financial services provider’s stock valued at $1,587,000 after buying an additional 2,850 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in shares of Nasdaq during the first quarter valued at about $425,000. Finally, DnB Asset Management AS boosted its position in shares of Nasdaq by 19.4% in the first quarter. DnB Asset Management AS now owns 12,300 shares of the financial services provider’s stock valued at $854,000 after buying an additional 2,000 shares during the period. 75.59% of the stock is owned by institutional investors.
Nasdaq, Inc. (NASDAQ NDAQ) opened at 75.50 on Friday. The stock has a market capitalization of $12.59 billion, a PE ratio of 57.37 and a beta of 0.76. Nasdaq, Inc. has a 12-month low of $63.30 and a 12-month high of $76.79. The stock’s 50 day moving average is $72.81 and its 200 day moving average is $70.29.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.06. The firm had revenue of $602 million during the quarter, compared to analyst estimates of $596.55 million. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. Nasdaq’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.91 EPS. Equities analysts anticipate that Nasdaq, Inc. will post $4.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 14th. Nasdaq’s payout ratio is currently 118.75%.
Several brokerages have issued reports on NDAQ. BidaskClub raised shares of Nasdaq from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $76.00 target price (up from $74.00) on shares of Nasdaq in a report on Thursday, July 27th. UBS AG reaffirmed a “buy” rating and issued a $85.00 target price (up from $80.00) on shares of Nasdaq in a report on Thursday, July 27th. Zacks Investment Research raised shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $71.00 target price (up from $68.00) on shares of Nasdaq in a report on Monday, July 17th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $75.22.
In related news, insider Edward S. Knight sold 15,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $74.39, for a total value of $1,115,850.00. Following the completion of the transaction, the insider now directly owns 78,063 shares of the company’s stock, valued at approximately $5,807,106.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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