Nasdaq, Inc. Declares Quarterly Dividend of $0.27 (NASDAQ:NDAQ)

Nasdaq, Inc. (NASDAQ:NDAQ) declared a quarterly dividend on Thursday, January 29th. Investors of record on Monday, March 16th will be given a dividend of 0.27 per share by the financial services provider on Monday, March 30th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, March 16th.

Nasdaq has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Nasdaq has a payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nasdaq to earn $3.61 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 29.9%.

Nasdaq Stock Down 0.6%

NDAQ traded down $0.62 during midday trading on Thursday, hitting $98.09. 6,005,618 shares of the company’s stock traded hands, compared to its average volume of 2,939,950. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $56.01 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. The stock’s fifty day simple moving average is $95.33 and its 200-day simple moving average is $92.52. Nasdaq has a one year low of $64.84 and a one year high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.91 by $0.05. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. As a group, equities analysts anticipate that Nasdaq will post 3.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Adena T. Friedman sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $96.39, for a total value of $28,917,000.00. Following the completion of the transaction, the chief executive officer owned 1,924,903 shares in the company, valued at $185,541,400.17. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $85.40, for a total value of $179,767.00. Following the transaction, the executive vice president owned 84,974 shares of the company’s stock, valued at approximately $7,256,779.60. This trade represents a 2.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 306,605 shares of company stock valued at $29,546,812. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Nasdaq

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its position in shares of Nasdaq by 3.8% in 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 during the period. Woodline Partners LP increased its position in Nasdaq by 40.7% during the first quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock worth $2,652,000 after buying an additional 10,110 shares during the last quarter. Focus Partners Wealth raised 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 during the period. Geneos Wealth Management Inc. lifted its position 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 last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Nasdaq in the second quarter valued at approximately $217,000. 72.47% of the stock is owned by institutional investors.

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.