Cullen Frost Bankers Inc. Sells 3,624 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Cullen Frost Bankers Inc. cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 137,094 shares of the financial services provider’s stock after selling 3,624 shares during the period. Cullen Frost Bankers Inc.’s holdings in Nasdaq were worth $10,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NDAQ. Catalyst Capital Advisors LLC purchased a new stake in shares of Nasdaq in the third quarter valued at $27,000. Founders Capital Management purchased a new stake in Nasdaq in the 4th quarter worth about $27,000. Kestra Investment Management LLC purchased a new stake in Nasdaq in the 4th quarter worth about $33,000. Raleigh Capital Management Inc. lifted its stake in Nasdaq by 106.6% in 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 last quarter. Finally, Peterson Financial Group Inc. purchased a new position in shares of Nasdaq during the third quarter valued at approximately $42,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NDAQ has been the topic of several recent analyst reports. Oppenheimer increased their price target on Nasdaq from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their target price on Nasdaq from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. William Blair initiated coverage on shares of Nasdaq in a research note on Monday, November 25th. They set an “outperform” rating for the company. Raymond James upped their price target on shares of Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Finally, Citigroup lifted their price objective on shares of Nasdaq from $78.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.88.

Nasdaq Stock Down 3.3 %

NASDAQ:NDAQ opened at $76.17 on Friday. The company’s 50-day simple moving average is $79.91 and its 200-day simple moving average is $77.14. 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 fifty-two week low of $57.96 and a fifty-two week high of $84.15. The stock has a market capitalization of $43.81 billion, a P/E ratio of 39.67, a P/E/G ratio of 2.12 and a beta of 0.99.

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

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Friday, March 14th. Nasdaq’s dividend payout ratio (DPR) is presently 50.00%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bryan Everard Smith sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $81.56, for a total transaction of $285,460.00. Following the transaction, the executive vice president now owns 55,576 shares in the company, valued at approximately $4,532,778.56. This represents a 5.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

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.