Citizens Financial Group Inc. RI Makes New $231,000 Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

Citizens Financial Group Inc. RI purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,838 shares of the financial services provider’s stock, valued at approximately $231,000.

Other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in Nasdaq by 7.5% during the first quarter. Janney Montgomery Scott LLC now owns 240,851 shares of the financial services provider’s stock worth $15,198,000 after buying an additional 16,797 shares during the period. SG Americas Securities LLC increased its holdings 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 purchasing an additional 139,228 shares during the period. Quantbot Technologies LP increased its holdings in shares of Nasdaq by 237.3% in the first quarter. Quantbot Technologies LP now owns 30,845 shares of the financial services provider’s stock valued at $1,946,000 after purchasing an additional 21,699 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 purchasing an additional 57,900 shares during the period. Finally, Crestline Management LP acquired a new position in shares of Nasdaq in the fourth quarter valued at approximately $11,221,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Stock Up 1.9 %

NDAQ opened at $74.29 on Friday. The business’s fifty day moving average is $68.61 and its two-hundred day moving average is $63.35. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $42.73 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.97 and a beta of 0.95. Nasdaq, Inc. has a one year low of $46.88 and a one year high of $74.36.

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

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.29%. Nasdaq’s dividend payout ratio is currently 50.53%.

Insider Activity

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the sale, the insider now directly owns 42,804,207 shares in the company, valued at $2,764,295,688.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NDAQ shares. Deutsche Bank Aktiengesellschaft boosted their target price on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Barclays boosted their target price on Nasdaq from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods boosted their target price on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank of America upgraded Nasdaq from an “underperform” rating to a “buy” rating and lifted their price target for the company from $53.00 to $90.00 in a research note on Wednesday, September 4th. Finally, Oppenheimer lifted their price target on Nasdaq from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and an average price target of $72.08.

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.