Allstate Corp Grows Stake in Nasdaq, Inc. $NDAQ

Allstate Corp grew its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 117.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,794 shares of the financial services provider’s stock after purchasing an additional 18,759 shares during the period. Allstate Corp’s holdings in Nasdaq were worth $3,380,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Westside Investment Management Inc. lifted its holdings in shares of Nasdaq by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 159 shares during the last quarter. SOA Wealth Advisors LLC. bought a new stake in shares of Nasdaq during the 4th quarter worth $34,000. Elyxium Wealth LLC bought a new stake in shares of Nasdaq during the 4th quarter worth $44,000. Community Bank N.A. bought a new stake in shares of Nasdaq during the 3rd quarter worth $45,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Nasdaq by 345.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 463 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Performance

Nasdaq stock opened at $90.53 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $51.20 billion, a PE ratio of 27.27, a P/E/G ratio of 1.81 and a beta of 0.98. The firm has a fifty day simple moving average of $87.96 and a two-hundred day simple moving average of $89.99. Nasdaq, Inc. has a twelve month low of $77.09 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Research analysts expect that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, June 12th. Nasdaq’s payout ratio is currently 32.53%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $109.00 price objective on shares of Nasdaq in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.15.

Insider Activity

In related news, EVP Bradley J. Peterson sold 7,710 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the transaction, the executive vice president owned 141,035 shares in the company, valued at $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michelle Lynn Daly sold 1,323 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the transaction, the senior vice president owned 10,089 shares in the company, valued at $896,104.98. This represents a 11.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 231,002 shares of company stock valued at $20,295,941. 0.60% of the stock is currently owned by insiders.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.