Raymond James & Associates Has $16.69 Million Stake in Nasdaq Inc (NDAQ)
Raymond James & Associates grew its stake in shares of Nasdaq Inc (NASDAQ:NDAQ) by 101.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,843 shares of the financial services provider’s stock after buying an additional 91,926 shares during the period. Raymond James & Associates’ holdings in Nasdaq were worth $16,688,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new position in Nasdaq in the 2nd quarter worth approximately $122,000. Piedmont Investment Advisors LLC purchased a new position in Nasdaq in the 2nd quarter worth approximately $125,000. TNB Financial purchased a new position in Nasdaq in the 2nd quarter worth approximately $201,000. GWM Advisors LLC purchased a new position in Nasdaq in the 2nd quarter worth approximately $207,000. Finally, Baird Financial Group Inc. purchased a new position in Nasdaq in the 1st quarter worth approximately $214,000. 75.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. Rosenblatt Securities assumed coverage on Nasdaq in a report on Wednesday, September 5th. They issued a “neutral” rating and a $99.00 price target on the stock. Barclays boosted their price target on Nasdaq from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, July 12th. Wells Fargo & Co reissued a “buy” rating and issued a $104.00 price target on shares of Nasdaq in a report on Friday, June 22nd. Zacks Investment Research cut Nasdaq from a “buy” rating to a “sell” rating in a report on Wednesday, July 11th. Finally, Citigroup upped their price objective on Nasdaq from $89.00 to $95.00 and gave the stock a “$95.59” rating in a report on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $94.07.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.01. The business had revenue of $615.00 million for the quarter, compared to analysts’ expectations of $620.25 million. Nasdaq had a return on equity of 13.40% and a net margin of 18.13%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. equities analysts forecast that Nasdaq Inc will post 4.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.76 annualized dividend and a dividend yield of 1.94%. Nasdaq’s dividend payout ratio (DPR) is 43.35%.
In other news, insider Bradley J. Peterson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $93.34, for a total transaction of $140,010.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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