Manning & Napier Advisors LLC Has $76.68 Million Position in Nasdaq, Inc. $NDAQ

Manning & Napier Advisors LLC cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 9.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 780,977 shares of the financial services provider’s stock after selling 80,687 shares during the period. Manning & Napier Advisors LLC’s holdings in Nasdaq were worth $76,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. NBC Securities Inc. grew its stake in Nasdaq by 7.8% in the 4th quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock valued at $149,000 after buying an additional 111 shares during the last quarter. ORG Wealth Partners LLC lifted its position in Nasdaq by 6.9% during the fourth quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 112 shares during the last quarter. Orgel Wealth Management LLC lifted its position in Nasdaq by 4.7% during the fourth quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 118 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Nasdaq by 1.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider’s stock worth $831,000 after acquiring an additional 128 shares during the period. Finally, Avidian Wealth Enterprises LLC grew its position in shares of Nasdaq by 5.2% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,713 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Buying and Selling

In related news, insider Cohen Tal sold 15,518 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the completion of the sale, the insider owned 215,208 shares of the company’s stock, valued at $19,530,126. This represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 7,710 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the sale, the executive vice president owned 141,035 shares in the company, valued at $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 231,002 shares of company stock valued at $20,295,941. Company insiders own 0.60% of the company’s stock.

Nasdaq Stock Down 0.1%

Shares of NDAQ opened at $88.91 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 12 month low of $77.09 and a 12 month high of $101.79. The firm’s 50 day moving average is $86.97 and its 200-day moving average is $89.66. The stock has a market capitalization of $50.28 billion, a PE ratio of 26.78, a P/E/G ratio of 1.81 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. Equities research analysts forecast that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, June 12th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s dividend payout ratio is currently 32.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. UBS Group reiterated a “buy” rating and set a $120.00 target price (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. Argus raised Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a research report on Friday, January 30th. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Nasdaq currently has an average rating of “Moderate Buy” and an average price target of $107.15.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.