Truist Financial Corp Sells 430,812 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Truist Financial Corp cut its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 43.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 549,438 shares of the financial services provider’s stock after selling 430,812 shares during the period. Truist Financial Corp’s holdings in Nasdaq were worth $42,477,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in Nasdaq by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 67,823 shares of the financial services provider’s stock valued at $5,243,000 after purchasing an additional 2,951 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Nasdaq by 22.1% in the fourth quarter. Sanctuary Advisors LLC now owns 61,813 shares of the financial services provider’s stock valued at $5,086,000 after purchasing an additional 11,198 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in Nasdaq by 94.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 353 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Nasdaq by 12.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,240,998 shares of the financial services provider’s stock valued at $173,252,000 after purchasing an additional 242,470 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in Nasdaq in the fourth quarter valued at approximately $126,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. UBS Group upped their price objective on Nasdaq from $79.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. StockNews.com upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Saturday, December 14th. Oppenheimer increased their target price on Nasdaq from $86.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Nasdaq in a research report on Thursday, January 30th. Finally, Raymond James increased their target price on Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Nasdaq currently has a consensus rating of “Moderate Buy” and an average target price of $86.88.

Nasdaq Trading Up 0.4 %

Shares of NDAQ stock opened at $81.24 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99. Nasdaq, Inc. has a 52-week low of $54.90 and a 52-week high of $84.15. The company has a market capitalization of $46.69 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.15 and a beta of 0.99. The business’s fifty day moving average is $79.55 and its 200 day moving average is $76.21.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. On average, equities research analysts anticipate that Nasdaq, Inc. will post 3.17 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.18%. Nasdaq’s dividend payout ratio is presently 50.00%.

Insider Activity at Nasdaq

In related news, EVP Bryan Everard Smith sold 3,500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $81.56, for a total value of $285,460.00. Following the transaction, the executive vice president now owns 55,576 shares of the company’s stock, valued at $4,532,778.56. This represents a 5.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is 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.