Bank of New York Mellon Corp Acquires 748,486 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Bank of New York Mellon Corp lifted its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 29.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,305,975 shares of the financial services provider’s stock after purchasing an additional 748,486 shares during the period. Bank of New York Mellon Corp owned 0.58% of Nasdaq worth $255,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Olstein Capital Management L.P. lifted its stake in Nasdaq by 35.6% in the fourth quarter. Olstein Capital Management L.P. now owns 80,000 shares of the financial services provider’s stock valued at $6,185,000 after buying an additional 21,000 shares during the period. Pacer Advisors Inc. increased its stake in shares of Nasdaq by 75.7% in the 4th quarter. Pacer Advisors Inc. now owns 53,933 shares of the financial services provider’s stock valued at $4,170,000 after acquiring an additional 23,244 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Nasdaq by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,173 shares of the financial services provider’s stock valued at $3,454,000 after acquiring an additional 9,130 shares during the period. USA Financial Formulas bought a new position in Nasdaq during the 4th quarter worth approximately $856,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Nasdaq by 49.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 164,179 shares of the financial services provider’s stock valued at $11,987,000 after purchasing an additional 54,594 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NDAQ shares. Raymond James increased their target price on shares of Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Deutsche Bank Aktiengesellschaft raised Nasdaq from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $98.00 in a research note on Wednesday, January 8th. StockNews.com raised Nasdaq from a “sell” rating to a “hold” rating in a research note on Saturday, December 14th. Keefe, Bruyette & Woods raised their price target on Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Finally, Argus lifted their price objective on Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.88.

Nasdaq Stock Up 0.6 %

Shares of NDAQ stock opened at $80.04 on Thursday. The firm’s fifty day moving average price is $79.67 and its two-hundred day moving average price is $76.74. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. Nasdaq, Inc. has a 1 year low of $55.51 and a 1 year high of $84.15. The firm has a market capitalization of $46.00 billion, a P/E ratio of 41.69, a PEG ratio of 2.12 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. On average, equities analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, March 14th. Nasdaq’s dividend payout ratio is currently 50.00%.

Insider Activity

In other news, EVP Bryan Everard Smith sold 3,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $81.56, for a total value of $285,460.00. Following the sale, the executive vice president now directly owns 55,576 shares of the company’s stock, valued at approximately $4,532,778.56. This represents a 5.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

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.