PNC Financial Services Group Inc. Decreases Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

PNC Financial Services Group Inc. cut its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 57.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,092 shares of the financial services provider’s stock after selling 429,938 shares during the period. PNC Financial Services Group Inc. owned approximately 0.06% of Nasdaq worth $18,552,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Loomis Sayles & Co. L P purchased a new stake in shares of Nasdaq in the 3rd quarter valued at approximately $26,000. Turtle Creek Wealth Advisors LLC acquired a new position in Nasdaq during the 4th quarter worth approximately $29,000. Allworth Financial LP grew its holdings in Nasdaq by 74.9% during the 4th quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 349 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Nasdaq by 158.5% during the 4th quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 553 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Nasdaq during the 3rd quarter worth approximately $65,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Trading Up 0.1 %

Shares of NDAQ stock opened at $58.63 on Tuesday. The firm has a market cap of $33.72 billion, a P/E ratio of 30.86, a PEG ratio of 3.18 and a beta of 0.94. Nasdaq, Inc. has a 1-year low of $46.88 and a 1-year high of $64.25. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50-day simple moving average is $60.58 and its 200-day simple moving average is $58.72.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. As a group, equities analysts forecast that Nasdaq, Inc. will post 2.68 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.64%. Nasdaq’s payout ratio is 50.53%.

Insiders Place Their Bets

In related news, EVP Bryan Everard Smith sold 7,400 shares of Nasdaq stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $62.91, for a total value of $465,534.00. Following the transaction, the executive vice president now owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Bryan Everard Smith sold 7,400 shares of Nasdaq stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $62.91, for a total value of $465,534.00. Following the transaction, the executive vice president now owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the transaction, the insider now directly owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,010,436 shares of company stock worth $1,798,647,360. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of several recent analyst reports. Argus boosted their price objective on shares of Nasdaq from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Rosenblatt Securities downgraded shares of Nasdaq from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $76.00 to $64.00 in a research report on Wednesday, May 8th. Keefe, Bruyette & Woods lowered their price target on shares of Nasdaq from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Morgan Stanley raised shares of Nasdaq from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $80.00 in a research note on Tuesday, April 9th. Finally, Edward Jones assumed coverage on shares of Nasdaq in a research note on Wednesday, April 3rd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Nasdaq 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.