Hartford Investment Management Co. Buys 1,782 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Hartford Investment Management Co. increased its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,198 shares of the financial services provider’s stock after buying an additional 1,782 shares during the quarter. Hartford Investment Management Co.’s holdings in Nasdaq were worth $1,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Y.D. More Investments Ltd increased its position in Nasdaq by 94.8% during the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 202 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Nasdaq during the 2nd quarter valued at about $26,000. Crewe Advisors LLC raised its position in Nasdaq by 164.4% in the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 314 shares during the period. LRI Investments LLC bought a new stake in Nasdaq in the first quarter worth about $31,000. Finally, Claro Advisors LLC bought a new stake in Nasdaq in the third quarter worth about $33,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Stock Up 1.8 %

Shares of NASDAQ NDAQ opened at $75.24 on Friday. Nasdaq, Inc. has a 12-month low of $47.56 and a 12-month high of $75.58. The stock’s fifty day simple moving average is $72.46 and its two-hundred day simple moving average is $65.60. The stock has a market capitalization of $43.33 billion, a PE ratio of 43.24, a price-to-earnings-growth ratio of 3.09 and a beta of 0.95. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, analysts expect that Nasdaq, Inc. will post 2.75 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. Nasdaq’s payout ratio is currently 55.17%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price target on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Barclays increased their target price on Nasdaq from $77.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 target price on shares of Nasdaq in a research note on Tuesday, October 8th. UBS Group upped their price target on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, TD Cowen assumed coverage on shares of Nasdaq in a report on Thursday, September 26th. They set a “hold” rating and a $83.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.07.

Insider Transactions at Nasdaq

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the completion of the sale, the insider now directly owns 42,804,207 shares in the company, valued at $2,764,295,688.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

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.