PNC Financial Services Group Inc. Reduces Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

PNC Financial Services Group Inc. cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 250,139 shares of the financial services provider’s stock after selling 2,745 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nasdaq were worth $18,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NDAQ. Y.D. More Investments Ltd increased its position in shares of Nasdaq by 94.8% in the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 202 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Nasdaq in the 2nd quarter worth about $26,000. Catalyst Capital Advisors LLC bought a new stake in Nasdaq in the third quarter worth $27,000. Crewe Advisors LLC grew its position in Nasdaq by 164.4% during the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 314 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Nasdaq during the first quarter valued at approximately $31,000. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Up 1.1 %

NDAQ stock opened at $80.97 on Friday. The firm has a market cap of $46.54 billion, a price-to-earnings ratio of 48.49, a PEG ratio of 3.12 and a beta of 0.95. Nasdaq, Inc. has a 1-year low of $53.62 and a 1-year high of $81.13. The firm has a fifty day moving average price of $74.94 and a two-hundred day moving average price of $67.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. Research analysts predict that Nasdaq, Inc. will post 2.79 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.24 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.19%. Nasdaq’s dividend payout ratio is 57.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Argus boosted their price objective on shares of Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Bank of America dropped their price target on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group boosted their price objective on Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Barclays lifted their price objective on Nasdaq from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Raymond James raised shares of Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective on the stock in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.87.

Insider Buying and Selling at Nasdaq

In other news, EVP Jeremy Skule sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total transaction of $935,040.00. Following the completion of the transaction, the executive vice president now owns 114,580 shares of the company’s stock, valued at approximately $8,928,073.60. This represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pc Nelson Griggs sold 6,000 shares of Nasdaq stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.71, for a total value of $454,260.00. Following the sale, the insider now directly owns 215,563 shares in the company, valued at $16,320,274.73. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,459 shares of company stock valued at $3,811,808 in the last quarter. Company 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.