Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Sumitomo Mitsui Trust Group Inc. raised its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 6.9% during the third quarter, HoldingsChannel.com reports. The firm owned 1,106,984 shares of the financial services provider’s stock after buying an additional 71,048 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Nasdaq were worth $80,821,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. First Pacific Financial increased its holdings in shares of Nasdaq by 1.0% in the 3rd quarter. First Pacific Financial now owns 13,842 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 142 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of Nasdaq by 4.2% during the third quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 149 shares during the period. Signaturefd LLC lifted its position in shares of Nasdaq by 2.5% in the 3rd quarter. Signaturefd LLC now owns 6,584 shares of the financial services provider’s stock worth $481,000 after buying an additional 162 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Nasdaq by 5.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,826 shares of the financial services provider’s stock valued at $231,000 after buying an additional 197 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Nasdaq by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 32,647 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 200 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Price Performance

NDAQ opened at $78.06 on Friday. Nasdaq, Inc. has a 12-month low of $53.17 and a 12-month high of $80.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $44.87 billion, a P/E ratio of 46.74, a PEG ratio of 3.10 and a beta of 0.95. The stock has a fifty day moving average of $74.15 and a 200-day moving average of $67.22.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business earned $0.71 EPS. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts forecast that Nasdaq, Inc. will post 2.78 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s dividend payout ratio is currently 57.49%.

Analyst Ratings Changes

Several equities analysts have recently commented on NDAQ shares. TD Cowen lowered their target price on Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a report on Monday, October 28th. Morgan Stanley increased their price objective on shares of Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. UBS Group boosted their target price on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Piper Sandler raised their price target on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price target on Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.87.

Insider Activity at Nasdaq

In other news, EVP Jeremy Skule sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $77.92, for a total transaction of $935,040.00. Following the completion of the sale, the executive vice president now directly owns 114,580 shares of the company’s stock, valued at $8,928,073.60. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the sale, the executive vice president now owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. This represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,384 shares of company stock valued at $2,860,902. Corporate insiders own 0.70% of the company’s stock.

About Nasdaq

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.