State Board of Administration of Florida Retirement System cut its position in shares of Nasdaq Inc (NASDAQ:NDAQ) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 171,559 shares of the financial services provider’s stock after selling 813 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.10% of Nasdaq worth $14,720,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of NDAQ. CIBC Asset Management Inc increased its stake in Nasdaq by 4.6% during the 2nd quarter. CIBC Asset Management Inc now owns 12,547 shares of the financial services provider’s stock worth $1,145,000 after acquiring an additional 553 shares during the period. Ibex Wealth Advisors increased its stake in shares of Nasdaq by 6.0% in the 3rd quarter. Ibex Wealth Advisors now owns 32,700 shares of the financial services provider’s stock valued at $2,849,000 after purchasing an additional 1,856 shares during the last quarter. Amalgamated Bank increased its stake in shares of Nasdaq by 6.0% in the 2nd quarter. Amalgamated Bank now owns 15,065 shares of the financial services provider’s stock valued at $1,375,000 after purchasing an additional 852 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Nasdaq by 98.6% in the 2nd quarter. Janus Henderson Group PLC now owns 612,338 shares of the financial services provider’s stock valued at $55,888,000 after purchasing an additional 304,083 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Nasdaq by 31.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,572 shares of the financial services provider’s stock valued at $782,000 after purchasing an additional 2,035 shares during the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:NDAQ traded up $1.33 during midday trading on Monday, reaching $92.65. The company’s stock had a trading volume of 901,920 shares, compared to its average volume of 952,893. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 2.00 and a beta of 0.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.94 and a quick ratio of 0.94. Nasdaq Inc has a fifty-two week low of $72.98 and a fifty-two week high of $96.84.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, December 13th. Nasdaq’s payout ratio is 43.35%.
Several equities analysts have recently issued reports on the company. BidaskClub lowered Nasdaq from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 16th. Citigroup cut their price objective on Nasdaq from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Zacks Investment Research raised Nasdaq from a “sell” rating to a “buy” rating and set a $101.00 price objective on the stock in a report on Tuesday, September 25th. Rosenblatt Securities began coverage on Nasdaq in a report on Wednesday, September 5th. They set a “neutral” rating and a $99.00 price objective on the stock. Finally, Atlantic Securities began coverage on Nasdaq in a report on Wednesday, November 28th. They set an “overweight” rating and a $105.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $96.79.
In related news, Director Lars Wedenborn sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $89.94, for a total value of $224,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ann M. Dennison sold 1,553 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $83.67, for a total value of $129,939.51. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
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Nasdaq Company Profile
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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