Resona Asset Management Co. Ltd. Invests $10.07 Million in Nasdaq, Inc. (NASDAQ:NDAQ)

Resona Asset Management Co. Ltd. purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 129,918 shares of the financial services provider’s stock, valued at approximately $10,065,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its stake in shares of Nasdaq by 8.9% in the 3rd quarter. Janus Henderson Group PLC now owns 58,929 shares of the financial services provider’s stock valued at $4,302,000 after purchasing an additional 4,800 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in Nasdaq by 11.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 153,860 shares of the financial services provider’s stock valued at $11,233,000 after buying an additional 15,187 shares during the period. Quarry LP lifted its position in Nasdaq by 316.7% in the third quarter. Quarry LP now owns 871 shares of the financial services provider’s stock worth $64,000 after buying an additional 662 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Nasdaq by 23.1% during the third quarter. Quantinno Capital Management LP now owns 30,329 shares of the financial services provider’s stock worth $2,214,000 after buying an additional 5,682 shares during the period. Finally, XTX Topco Ltd bought a new position in Nasdaq during the third quarter valued at $208,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $68.25 on Monday. The company has a market capitalization of $39.25 billion, a PE ratio of 35.55, a P/E/G ratio of 2.12 and a beta of 0.96. The company has a 50-day simple moving average of $78.53 and a two-hundred day simple moving average of $77.69. Nasdaq, Inc. has a one year low of $58.10 and a one year high of $84.15. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 EPS 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%. Research analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.41%. Nasdaq’s payout ratio is 50.00%.

Wall Street Analyst Weigh In

NDAQ has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Nasdaq from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Oppenheimer boosted their target price on Nasdaq from $86.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Nasdaq in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on Nasdaq from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.94.

Insider Buying and Selling

In other news, EVP Bryan Everard Smith sold 3,500 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $81.56, for a total transaction of $285,460.00. Following the sale, the executive vice president now directly owns 55,576 shares of the company’s stock, valued at $4,532,778.56. The trade was a 5.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sarah Youngwood sold 14,959 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $73.68, for a total value of $1,102,179.12. Following the completion of the transaction, the executive vice president now owns 59,694 shares of the company’s stock, valued at $4,398,253.92. This trade represents a 20.04 % decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by company 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.