LGT Fund Management Co Ltd. Purchases Shares of 24,526 Nasdaq, Inc. (NASDAQ:NDAQ)

LGT Fund Management Co Ltd. acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 24,526 shares of the financial services provider’s stock, valued at approximately $1,478,000.

Several other large investors also recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its stake in Nasdaq by 7.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 240,851 shares of the financial services provider’s stock valued at $15,198,000 after purchasing an additional 16,797 shares during the period. Kingsview Wealth Management LLC bought a new stake in shares of Nasdaq in the fourth quarter valued at about $1,949,000. SG Americas Securities LLC grew its stake in shares of Nasdaq by 312.0% in the first quarter. SG Americas Securities LLC now owns 183,849 shares of the financial services provider’s stock valued at $11,601,000 after acquiring an additional 139,228 shares in the last quarter. BNP Paribas Financial Markets increased its position in Nasdaq by 12.8% during the fourth quarter. BNP Paribas Financial Markets now owns 415,101 shares of the financial services provider’s stock worth $24,134,000 after acquiring an additional 46,957 shares during the period. Finally, Quantbot Technologies LP raised its stake in Nasdaq by 237.3% in the 1st quarter. Quantbot Technologies LP now owns 30,845 shares of the financial services provider’s stock worth $1,946,000 after purchasing an additional 21,699 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NDAQ. Keefe, Bruyette & Woods increased their target price on shares of Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Bank of America raised Nasdaq from an “underperform” rating to a “buy” rating and increased their price target for the stock from $53.00 to $90.00 in a research report on Wednesday, September 4th. Barclays raised their price objective on Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft upped their target price on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Argus raised their price target on Nasdaq from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

Insiders Place Their Bets

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of Nasdaq stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the sale, the insider now directly owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Nasdaq Stock Down 0.4 %

NDAQ stock opened at $71.65 on Tuesday. The firm has a 50-day moving average price of $66.91 and a 200-day moving average price of $62.60. Nasdaq, Inc. has a 12 month low of $46.88 and a 12 month high of $74.17. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $41.27 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 2.94 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. As a group, equities research analysts anticipate that Nasdaq, Inc. will post 2.74 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.34%. Nasdaq’s dividend payout ratio is currently 50.53%.

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.