Royal Bank of Canada Lowers Stake in Nasdaq, Inc. (NDAQ)

Royal Bank of Canada cut its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,077 shares of the financial services provider’s stock after selling 9,610 shares during the period. Royal Bank of Canada owned about 0.17% of Nasdaq worth $20,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NDAQ. Advisor Partners LLC bought a new stake in Nasdaq in the second quarter valued at $214,000. Nikko Asset Management Americas Inc. grew its position in Nasdaq by 1,325.8% in the second quarter. Nikko Asset Management Americas Inc. now owns 126,900 shares of the financial services provider’s stock valued at $9,072,000 after acquiring an additional 118,000 shares during the period. Commerce Bank grew its position in Nasdaq by 1.9% in the second quarter. Commerce Bank now owns 283,835 shares of the financial services provider’s stock valued at $20,292,000 after acquiring an additional 5,401 shares during the period. Summit Securities Group LLC bought a new stake in Nasdaq in the second quarter valued at $645,000. Finally, GAM Holding AG grew its position in Nasdaq by 0.7% in the second quarter. GAM Holding AG now owns 28,766 shares of the financial services provider’s stock valued at $2,056,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 74.63% of the company’s stock.

A number of analysts have weighed in on the company. BidaskClub upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Royal Bank Of Canada set a $74.00 price target on Nasdaq and gave the company a “hold” rating in a research report on Monday, July 17th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 price target on shares of Nasdaq in a research report on Thursday. Zacks Investment Research cut Nasdaq from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $71.00 price target (up from $68.00) on shares of Nasdaq in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $76.30.

Nasdaq, Inc. (NASDAQ:NDAQ) opened at 75.63 on Thursday. The firm has a 50-day moving average price of $75.68 and a 200-day moving average price of $71.92. Nasdaq, Inc. has a 1-year low of $63.30 and a 1-year high of $78.31. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 57.47 and a beta of 0.77.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.06. Nasdaq had a return on equity of 12.19% and a net margin of 5.76%. The company had revenue of $602.00 million for the quarter, compared to analyst estimates of $596.55 million. During the same quarter last year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts expect that Nasdaq, Inc. will post $4.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.38 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.01%. Nasdaq’s payout ratio is 118.75%.

In other news, insider Edward S. Knight sold 15,000 shares of Nasdaq stock in a transaction on Friday, July 28th. The stock was sold at an average price of $74.39, for a total value of $1,115,850.00. Following the transaction, the insider now owns 78,063 shares in the company, valued at approximately $5,807,106.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ann M. Dennison sold 1,170 shares of Nasdaq stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $76.32, for a total value of $89,294.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,844 shares of company stock worth $2,788,100. Corporate insiders own 1.60% of the company’s stock.

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Nasdaq Company Profile

Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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