Sompo Asset Management Co. Ltd. Cuts Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Sompo Asset Management Co. Ltd. trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 44.7% in the third quarter, HoldingsChannel reports. The firm owned 8,110 shares of the financial services provider’s stock after selling 6,560 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Nasdaq were worth $592,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NDAQ. Catalyst Capital Advisors LLC purchased a new position in shares of Nasdaq in the 3rd quarter worth about $27,000. Y.D. More Investments Ltd lifted its position in shares of Nasdaq by 94.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after buying an additional 202 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Nasdaq during the 2nd quarter worth $26,000. Claro Advisors LLC purchased a new position in shares of Nasdaq in the third quarter worth about $33,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of Nasdaq during the 3rd quarter valued at approximately $35,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Performance

Shares of NASDAQ:NDAQ opened at $81.07 on Monday. Nasdaq, Inc. has a 12 month low of $53.62 and a 12 month high of $81.35. The company has a market cap of $46.60 billion, a price-to-earnings ratio of 48.55, a price-to-earnings-growth ratio of 3.16 and a beta of 0.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. The company has a 50-day moving average price of $75.11 and a 200-day moving average price of $68.15.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. As a group, equities analysts anticipate that Nasdaq, Inc. will post 2.79 EPS for the current year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, December 6th. This represents a $0.96 annualized dividend and a dividend yield of 1.18%. Nasdaq’s dividend payout ratio is presently 57.49%.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of a number of recent analyst reports. StockNews.com lowered Nasdaq from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Argus raised 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. Piper Sandler upped their target price on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Oppenheimer lifted their price target on shares of Nasdaq from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group increased their target price on shares of Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Nasdaq currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.87.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the transaction, the executive vice president now owns 142,830 shares in the company, valued at approximately $10,757,955.60. The trade was a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pc Nelson Griggs sold 6,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.71, for a total value of $454,260.00. Following the transaction, the insider now owns 215,563 shares of the company’s stock, valued at $16,320,274.73. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,459 shares of company stock valued at $3,811,808. 0.70% of the stock is currently owned by company insiders.

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.