Empirical Finance LLC Has $898,000 Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Empirical Finance LLC lifted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,295 shares of the financial services provider’s stock after purchasing an additional 459 shares during the quarter. Empirical Finance LLC’s holdings in Nasdaq were worth $898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NDAQ. Vanguard Group Inc. grew its stake in shares of Nasdaq by 7.0% during the first quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock worth $3,043,936,000 after buying an additional 3,173,981 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in shares of Nasdaq by 28.4% during the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after acquiring an additional 1,866,219 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Nasdaq by 2.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock worth $287,270,000 after acquiring an additional 94,122 shares during the last quarter. Bessemer Group Inc. increased its holdings in Nasdaq by 26.5% in the 1st quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock worth $181,609,000 after purchasing an additional 602,040 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Nasdaq by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 2,443,939 shares of the financial services provider’s stock valued at $147,272,000 after purchasing an additional 82,606 shares during the last quarter. 72.47% of the stock is owned by institutional investors.

Insider Activity

In other Nasdaq news, insider Pc Nelson Griggs sold 6,000 shares of Nasdaq stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.71, for a total transaction of $454,260.00. Following the completion of the transaction, the insider now owns 215,563 shares in the company, valued at approximately $16,320,274.73. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bradley J. Peterson sold 13,642 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the sale, the executive vice president now directly owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,384 shares of company stock worth $2,860,902 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NDAQ shares. Bank of America reduced their price target on Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. UBS Group upped their price target on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their price target on shares of Nasdaq from $77.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Raymond James upgraded 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, TD Cowen cut their target price on Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.87.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $78.76 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. Nasdaq, Inc. has a twelve month low of $53.36 and a twelve month high of $80.77. The company has a fifty day moving average of $74.28 and a 200-day moving average of $67.40. The firm has a market capitalization of $45.27 billion, a P/E ratio of 47.16, a P/E/G ratio of 3.12 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 2.78 EPS for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid 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 1.22%. Nasdaq’s dividend payout ratio (DPR) is presently 57.49%.

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.