American International Group Inc. Decreases Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

American International Group Inc. lessened its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,883 shares of the financial services provider’s stock after selling 2,009 shares during the quarter. American International Group Inc.’s holdings in Nasdaq were worth $5,400,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC purchased a new position in Nasdaq in the 4th quarter valued at approximately $29,000. Allworth Financial LP boosted its holdings in shares of Nasdaq by 74.9% in the fourth quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 349 shares during the period. Lindbrook Capital LLC grew its position in shares of Nasdaq by 158.5% in the fourth quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 553 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Nasdaq during the 3rd quarter valued at $65,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Nasdaq by 313.7% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,328 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 1,007 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NDAQ shares. Rosenblatt Securities cut Nasdaq from a “buy” rating to a “neutral” rating and decreased their price target for the company from $76.00 to $64.00 in a research report on Wednesday, May 8th. Argus upped their target price on shares of Nasdaq from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Edward Jones assumed coverage on shares of Nasdaq in a research report on Wednesday, April 3rd. They set a “buy” rating for the company. Morgan Stanley upgraded Nasdaq from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $80.00 in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group raised Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Nasdaq Stock Performance

Shares of NASDAQ NDAQ opened at $60.25 on Friday. The stock has a market cap of $34.66 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 3.20 and a beta of 0.94. The stock’s 50-day moving average is $60.31 and its 200 day moving average is $58.77. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.90. Nasdaq, Inc. has a 1-year low of $46.88 and a 1-year high of $64.25.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data 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 business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, sell-side analysts anticipate that Nasdaq, Inc. will post 2.68 EPS for the current fiscal year.

Nasdaq Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.96 annualized dividend and a dividend yield of 1.59%. This is an increase from Nasdaq’s previous quarterly dividend of $0.22. Nasdaq’s payout ratio is currently 50.53%.

Insider Activity

In related news, EVP Bryan Everard Smith sold 3,036 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $59.89, for a total transaction of $181,826.04. Following the transaction, the executive vice president now directly owns 58,636 shares in the company, valued at approximately $3,511,710.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.