The Manufacturers Life Insurance Company Has $409.89 Million Position in Nasdaq, Inc. (NASDAQ:NDAQ)

The Manufacturers Life Insurance Company cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,802,075 shares of the financial services provider’s stock after selling 726,684 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.18% of Nasdaq worth $409,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NDAQ. Smithfield Trust Co grew its position in Nasdaq by 22.0% in the first quarter. Smithfield Trust Co now owns 960 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 173 shares in the last quarter. Greenleaf Trust lifted its stake in shares of Nasdaq by 1.6% in the 1st quarter. Greenleaf Trust now owns 11,330 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 183 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Nasdaq by 5.4% in the second quarter. Evergreen Capital Management LLC now owns 3,826 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 197 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Nasdaq by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 32,647 shares of the financial services provider’s stock worth $1,967,000 after buying an additional 200 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its holdings in Nasdaq by 89.3% during the first quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock valued at $27,000 after buying an additional 201 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Stock Down 0.7 %

Shares of NASDAQ NDAQ opened at $72.56 on Friday. Nasdaq, Inc. has a 52-week low of $46.88 and a 52-week high of $74.88. The stock has a market cap of $41.74 billion, a PE ratio of 38.19, a PEG ratio of 3.04 and a beta of 0.95. The business has a fifty day moving average of $69.90 and a two-hundred day moving average of $63.96. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities research analysts expect that Nasdaq, Inc. will post 2.75 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, September 13th. This represents a $0.96 annualized dividend and a yield of 1.32%. Nasdaq’s dividend payout ratio (DPR) is 50.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays lifted their price target on shares of Nasdaq from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. TD Cowen started coverage on Nasdaq in a research report on Thursday. They issued a “hold” rating and a $83.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Oppenheimer lifted their price target on Nasdaq from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.86.

Insiders Place Their Bets

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the completion of the sale, the insider now owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.