Amalgamated Bank Decreases Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Amalgamated Bank lessened its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,686 shares of the financial services provider’s stock after selling 5,157 shares during the period. Amalgamated Bank’s holdings in Nasdaq were worth $4,866,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in Nasdaq by 214.0% during the third quarter. The Manufacturers Life Insurance Company now owns 6,281,617 shares of the financial services provider’s stock valued at $305,224,000 after purchasing an additional 4,280,846 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Nasdaq by 16.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,787,784 shares of the financial services provider’s stock valued at $232,564,000 after acquiring an additional 681,238 shares during the last quarter. Northern Trust Corp grew its position in Nasdaq by 5.4% in the third quarter. Northern Trust Corp now owns 3,363,894 shares of the financial services provider’s stock worth $163,452,000 after acquiring an additional 171,959 shares in the last quarter. Invesco Ltd. grew its position in Nasdaq by 16.7% in the third quarter. Invesco Ltd. now owns 2,654,180 shares of the financial services provider’s stock worth $128,967,000 after acquiring an additional 378,936 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Nasdaq by 5.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,625,448 shares of the financial services provider’s stock worth $152,644,000 after acquiring an additional 127,978 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NDAQ shares. Citigroup raised their price objective on Nasdaq from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. Barclays lowered their price target on Nasdaq from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Piper Sandler increased their target price on shares of Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Rosenblatt Securities lowered their target price on shares of Nasdaq from $82.00 to $76.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, UBS Group lifted their price target on shares of Nasdaq from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.92.

Insider Buying and Selling at Nasdaq

In other news, EVP Bryan Everard Smith sold 7,400 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,383,809,610. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Bryan Everard Smith sold 7,400 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the sale, the executive vice president now directly owns 61,672 shares in the company, valued at approximately $3,879,785.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,010,436 shares of company stock valued at $1,798,647,360. Company insiders own 0.75% of the company’s stock.

Nasdaq Stock Performance

Shares of NASDAQ:NDAQ opened at $60.90 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $35.03 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 3.36 and a beta of 0.94. The firm’s 50 day simple moving average is $60.54 and its 200-day simple moving average is $57.05. Nasdaq, Inc. has a one year low of $46.88 and a one year high of $64.25.

Nasdaq (NASDAQ:NDAQ) last issued its 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). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities analysts predict that Nasdaq, Inc. will post 2.69 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.58%. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, June 14th. Nasdaq’s dividend payout ratio is presently 46.32%.

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.