Chevy Chase Trust Holdings LLC Buys 55,862 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Chevy Chase Trust Holdings LLC increased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 990,065 shares of the financial services provider’s stock after buying an additional 55,862 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Nasdaq were worth $72,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its position in shares of Nasdaq by 3.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,975 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 137 shares during the period. First Pacific Financial increased its holdings in 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 buying an additional 142 shares during the period. Crestwood Advisors Group LLC raised its stake in shares of Nasdaq by 4.2% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider’s stock valued at $268,000 after buying an additional 149 shares in the last quarter. Kentucky Retirement Systems lifted its holdings in shares of Nasdaq by 0.5% during the 3rd quarter. Kentucky Retirement Systems now owns 28,828 shares of the financial services provider’s stock worth $2,105,000 after acquiring an additional 154 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Nasdaq by 2.5% during the 3rd quarter. Signaturefd LLC now owns 6,584 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 162 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NDAQ shares. Bank of America dropped their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Piper Sandler raised their target price on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Barclays upped their price target on Nasdaq from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Raymond James raised Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective for the company in a report on Monday, October 14th. Finally, 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. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.87.

Nasdaq Price Performance

NDAQ opened at $82.99 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $47.70 billion, a P/E ratio of 49.69, a price-to-earnings-growth ratio of 3.23 and a beta of 0.95. The company’s 50 day simple moving average is $76.02 and its 200-day simple moving average is $68.87. Nasdaq, Inc. has a one year low of $53.62 and a one year high of $83.77.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. Sell-side analysts anticipate that Nasdaq, Inc. will post 2.79 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a yield of 1.16%. Nasdaq’s payout ratio is 57.49%.

Insiders Place Their Bets

In other news, insider Pc Nelson Griggs sold 5,742 shares of Nasdaq stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $77.34, for a total transaction of $444,086.28. Following the completion of the sale, the insider now owns 205,821 shares in the company, valued at $15,918,196.14. The trade was a 2.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeremy Skule sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total transaction of $935,040.00. Following the completion of the transaction, the executive vice president now owns 114,580 shares in the company, valued at $8,928,073.60. This represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,459 shares of company stock valued at $3,811,808. 0.70% of the stock is currently owned by insiders.

Nasdaq 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.