7,655 Shares in Nasdaq, Inc. (NDAQ) Purchased by Pettee Investors Inc.
Pettee Investors Inc. purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,655 shares of the financial services provider’s stock, valued at approximately $594,000.
A number of other hedge funds have also made changes to their positions in the business. Prudential Financial Inc. boosted its position in Nasdaq by 2.2% during the 3rd quarter. Prudential Financial Inc. now owns 163,685 shares of the financial services provider’s stock worth $12,697,000 after acquiring an additional 3,580 shares during the period. American Century Companies Inc. bought a new stake in shares of Nasdaq in the 3rd quarter worth $19,865,000. State of Tennessee Treasury Department raised its stake in shares of Nasdaq by 162.3% in the 3rd quarter. State of Tennessee Treasury Department now owns 81,768 shares of the financial services provider’s stock worth $6,343,000 after buying an additional 50,595 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of Nasdaq in the 3rd quarter worth $7,318,000. Finally, Polaris Greystone Financial Group LLC raised its stake in shares of Nasdaq by 1.4% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 273,465 shares of the financial services provider’s stock worth $21,213,000 after buying an additional 3,699 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.
Nasdaq, Inc. (NASDAQ:NDAQ) traded up $0.48 on Wednesday, hitting $72.50. The stock had a trading volume of 187,530 shares, compared to its average volume of 1,298,781. The company has a market cap of $12,004.33, a P/E ratio of 17.43, a PEG ratio of 2.01 and a beta of 0.76. Nasdaq, Inc. has a 52 week low of $63.36 and a 52 week high of $78.31. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.15.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The company had revenue of $607.00 million during the quarter, compared to the consensus estimate of $599.84 million. Nasdaq had a return on equity of 12.69% and a net margin of 6.72%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. research analysts predict that Nasdaq, Inc. will post 4.18 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.10%. Nasdaq’s dividend payout ratio (DPR) is presently 100.00%.
A number of equities research analysts have recently issued reports on NDAQ shares. Barclays PLC cut their target price on Nasdaq from $85.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. BidaskClub raised Nasdaq from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research lowered Nasdaq from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $78.00 target price on shares of Nasdaq in a research report on Thursday, October 12th. Finally, Royal Bank Of Canada set a $74.00 target price on Nasdaq and gave the stock a “hold” rating in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $77.40.
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In related news, Director Lars Wedenborn sold 3,045 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $76.13, for a total transaction of $231,815.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann M. Dennison sold 1,170 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $76.32, for a total value of $89,294.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,844 shares of company stock valued at $1,672,250. 1.60% of the stock is currently owned by corporate insiders.
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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