The Manufacturers Life Insurance Company Has $483.24 Million Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

by · The Markets Daily

The Manufacturers Life Insurance Company lowered its position in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,618,769 shares of the financial services provider’s stock after selling 183,306 shares during the quarter. The Manufacturers Life Insurance Company owned 1.15% of Nasdaq worth $483,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC raised its position in Nasdaq by 6,408.3% during the 1st quarter. EntryPoint Capital LLC now owns 781 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 769 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Nasdaq during the first quarter worth about $352,000. LRI Investments LLC acquired a new position in shares of Nasdaq in the first quarter worth approximately $31,000. Price T Rowe Associates Inc. MD boosted its holdings in Nasdaq by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 517,000 shares of the financial services provider’s stock valued at $32,624,000 after acquiring an additional 57,900 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Nasdaq by 108.5% during the 1st quarter. Janus Henderson Group PLC now owns 124,697 shares of the financial services provider’s stock valued at $7,863,000 after purchasing an additional 64,886 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analysts Set New Price Targets

NDAQ has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. TD Cowen dropped their target price on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Raymond James upgraded Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price target for the company in a report on Monday, October 14th. William Blair initiated coverage on Nasdaq in a research note on Monday. They issued an “outperform” rating on the stock. Finally, The Goldman Sachs Group raised their target price on Nasdaq from $77.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and a consensus price target of $80.87.

View Our Latest Research Report on NDAQ

Insiders Place Their Bets

In other news, EVP Jeremy Skule sold 12,075 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $78.75, for a total value of $950,906.25. Following the transaction, the executive vice president now owns 102,505 shares in the company, valued at $8,072,268.75. The trade was a 10.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pc Nelson Griggs sold 6,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were 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 of the company’s stock, valued at $16,320,274.73. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,459 shares of company stock valued at $3,811,808 in the last three months. 0.70% of the stock is currently owned by insiders.

Nasdaq Trading Up 0.6 %

NASDAQ:NDAQ opened at $81.52 on Tuesday. 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, Inc. has a one year low of $53.62 and a one year high of $82.39. The company has a market cap of $46.85 billion, a PE ratio of 48.81, a PEG ratio of 3.16 and a beta of 0.95. The firm has a 50-day moving average of $75.27 and a 200-day moving average of $68.30.

Nasdaq (NASDAQ:NDAQ – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 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 firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.71 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities research analysts expect that Nasdaq, Inc. will post 2.79 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s dividend payout ratio (DPR) is presently 57.49%.

Nasdaq Company Profile

(Free Report)

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.

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