State of Michigan Retirement System Has $8.68 Million Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

State of Michigan Retirement System decreased its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,290 shares of the financial services provider’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Nasdaq were worth $8,681,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Founders Capital Management bought a new position in shares of Nasdaq in the 4th quarter worth about $27,000. Catalyst Capital Advisors LLC acquired a new stake in Nasdaq during the third quarter worth approximately $27,000. Kestra Investment Management LLC bought a new stake in Nasdaq in the fourth quarter worth approximately $33,000. Raleigh Capital Management Inc. lifted its stake in Nasdaq by 106.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider’s stock valued at $34,000 after buying an additional 225 shares during the period. Finally, Focused Wealth Management Inc bought a new position in shares of Nasdaq during the 3rd quarter worth approximately $35,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Price Performance

NDAQ opened at $78.80 on Thursday. Nasdaq, Inc. has a 1 year low of $56.75 and a 1 year high of $84.15. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.99 and a quick ratio of 0.95. The company has a market capitalization of $45.32 billion, a price-to-earnings ratio of 41.04, a P/E/G ratio of 2.12 and a beta of 0.99. The firm’s fifty day moving average price is $79.92 and its two-hundred day moving average price is $77.13.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. As a group, analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, March 14th. Nasdaq’s dividend payout ratio is presently 50.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NDAQ. StockNews.com upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Saturday, December 14th. JPMorgan Chase & Co. lifted their price target on shares of Nasdaq from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. William Blair started coverage on shares of Nasdaq in a research report on Monday, November 25th. They set an “outperform” rating on the stock. Raymond James boosted their target price on Nasdaq from $83.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Finally, UBS Group increased their price target on Nasdaq from $79.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.88.

Insider Activity at Nasdaq

In other Nasdaq news, EVP Bryan Everard Smith sold 3,500 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $81.56, for a total value of $285,460.00. Following the completion of the transaction, the executive vice president now owns 55,576 shares in the company, valued at $4,532,778.56. This represents a 5.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

About Nasdaq

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.