Munich Reinsurance Co Stock Corp in Munich Acquires New Holdings in Nasdaq, Inc. $NDAQ

Munich Reinsurance Co Stock Corp in Munich bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the 3rd quarter, Holdings Channel.com reports. The fund bought 650,366 shares of the financial services provider’s stock, valued at approximately $57,525,000. Nasdaq accounts for approximately 1.4% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 28th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Nasdaq by 2.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 4,935 shares of the financial services provider’s stock valued at $441,000 after buying an additional 110 shares during the period. Advisors Capital Management LLC increased its holdings in shares of Nasdaq by 3.4% in the second quarter. Advisors Capital Management LLC now owns 3,968 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 129 shares in the last quarter. PDS Planning Inc raised its position in shares of Nasdaq by 4.9% during the third quarter. PDS Planning Inc now owns 2,830 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 133 shares during the period. Dynamic Advisor Solutions LLC raised its position in shares of Nasdaq by 4.6% during the third quarter. Dynamic Advisor Solutions LLC now owns 3,139 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 139 shares during the period. Finally, Mather Group LLC. lifted its holdings in shares of Nasdaq by 3.3% during the 3rd quarter. Mather Group LLC. now owns 4,380 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 139 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Adena T. Friedman sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total value of $29,073,000.00. Following the sale, the chief executive officer directly owned 1,924,903 shares in the company, valued at approximately $186,542,349.73. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Zecca sold 4,500 shares of Nasdaq stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total transaction of $450,045.00. Following the sale, the executive vice president directly owned 125,674 shares in the company, valued at $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 604,500 shares of company stock worth $58,440,045 over the last ninety days. 0.70% of the stock is currently owned by insiders.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $88.43 on Friday. The stock has a market capitalization of $50.27 billion, a PE ratio of 28.62, a P/E/G ratio of 1.45 and a beta of 1.03. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $101.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $91.78 and a two-hundred day moving average price of $91.03.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the business earned $0.76 earnings per share. Nasdaq’s revenue was up 13.4% on a year-over-year basis. As a group, equities analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, March 16th. Nasdaq’s dividend payout ratio is currently 34.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group reaffirmed a “buy” rating and set a $120.00 price target (up from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. Morgan Stanley set a $116.00 price objective on Nasdaq and gave the company an “overweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a research report on Friday, January 30th. Argus raised Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Raymond James Financial restated an “outperform” rating and issued a $109.00 price target on shares of Nasdaq in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $103.80.

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.