Allstate Corp Makes New $994,000 Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

Allstate Corp acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,857 shares of the financial services provider’s stock, valued at approximately $994,000.

Other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. purchased a new position in shares of Nasdaq in the fourth quarter worth about $26,000. Founders Capital Management bought a new stake in Nasdaq in the 4th quarter worth $27,000. Kestra Investment Management LLC bought a new position in shares of Nasdaq during the fourth quarter valued at about $33,000. Raleigh Capital Management Inc. boosted its holdings in shares of Nasdaq by 106.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 225 shares during the period. Finally, TCTC Holdings LLC bought a new stake in shares of Nasdaq in the fourth quarter worth about $41,000. 72.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on NDAQ. Raymond James upped their price target on Nasdaq from $83.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. UBS Group boosted their price objective on shares of Nasdaq from $79.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of Nasdaq from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Oppenheimer increased their price target on shares of Nasdaq from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Finally, Barclays cut their price objective on Nasdaq from $96.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.88.

Insider Activity

In other Nasdaq news, EVP Sarah Youngwood sold 14,959 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the completion of the sale, the executive vice president now directly owns 59,694 shares in the company, valued at approximately $4,398,253.92. The trade was a 20.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan Everard Smith sold 3,500 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $81.56, for a total value of $285,460.00. Following the transaction, the executive vice president now directly owns 55,576 shares in the company, valued at $4,532,778.56. The trade was a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Nasdaq Stock Performance

Shares of NDAQ opened at $75.86 on Tuesday. The company has a market cap of $43.63 billion, a price-to-earnings ratio of 39.51, a P/E/G ratio of 2.12 and a beta of 0.96. The business’s fifty day simple moving average is $79.06 and its two-hundred day simple moving average is $77.65. Nasdaq, Inc. has a 12 month low of $58.10 and a 12 month high of $84.15. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. Research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. Nasdaq’s dividend payout ratio is presently 50.00%.

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.