Munich Reinsurance Co Stock Corp in Munich Has $73.34 Million Stake in Nasdaq, Inc. $NDAQ

Munich Reinsurance Co Stock Corp in Munich boosted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 29.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 863,923 shares of the financial services provider’s stock after purchasing an additional 197,896 shares during the period. Nasdaq comprises about 1.8% of Munich Reinsurance Co Stock Corp in Munich’s portfolio, making the stock its 19th largest holding. Munich Reinsurance Co Stock Corp in Munich’s holdings in Nasdaq were worth $73,338,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its holdings in shares of Nasdaq by 1.6% in the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock valued at $277,329,000 after buying an additional 45,783 shares during the last quarter. M&T Bank Corp grew its stake in shares of Nasdaq by 27.5% in the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider’s stock valued at $5,933,000 after buying an additional 13,160 shares in the last quarter. AlphaCore Capital LLC acquired a new position in Nasdaq during the fourth quarter worth $1,245,000. Advisors Preferred LLC acquired a new position in Nasdaq during the fourth quarter worth $4,872,000. Finally, MKP Capital Management L.L.C. bought a new stake in Nasdaq during the fourth quarter worth $33,996,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Trading Down 2.4%

Shares of Nasdaq stock opened at $84.39 on Thursday. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The firm has a 50-day moving average of $87.34 and a 200-day moving average of $89.07. The stock has a market cap of $47.73 billion, a PE ratio of 25.42, a PEG ratio of 1.72 and a beta of 0.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 3.87 EPS for the current year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.31 per share. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 annualized dividend and a dividend yield of 1.5%. Nasdaq’s payout ratio is currently 37.35%.

Wall Street Analyst Weigh In

A number of analysts have commented on NDAQ shares. Loop Capital set a $113.00 price target on shares of Nasdaq in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods raised their target price on shares of Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $107.54.

Insider Buying and Selling

In related news, insider Cohen Tal sold 15,518 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the completion of the sale, the insider owned 215,208 shares of the company’s stock, valued at $19,530,126. This represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michelle Lynn Daly sold 1,323 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $88.82, for a total transaction of $117,508.86. Following the sale, the senior vice president owned 10,089 shares in the company, valued at $896,104.98. The trade was a 11.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,551 shares of company stock worth $2,225,990 over the last three months. Company insiders own 0.60% of the company’s stock.

Nasdaq Profile

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.